Source file signed link, expires in 15 minutes
Extracted text 433
Page 1
Page 2
Page 3
DIGITAL
TRANSFORMATION
FOR SUSTAINABLE
GROWTH
2024 Annual Report
PT Bank Tabungan Negara (Persero) Tbk. capabilities by providing an improved BTN
(hereinafter referred to as the Company Mobile service, increased sales productivity
or BTN) remains agile in conducting its in the funding segment, and reinforced its
business, continuously adapting to changes information technology infrastructure.
in the environment. BTN has established a
vision and mission as a strategic direction Digital transformation is also reflected in
for the Company’s future development. The the establishment of the Digital Operations
vision is: “To Become the Best Mortgage Bank Division and Digital Operations Risk Division,
in Southeast Asia by 2025.” which ensures the effective delivery of the
Company’s services and operations, as
One of the key factors in implementing well as strengthens information technology,
these strategic initiatives is digital digital, and operational risk management
transformation, supported by adaptive to mitigate potential risks in the cyber and
information technology management. BTN digital domains. BTN is optimistic that these
has strengthened its digitalization processes various efforts will drive the Company’s
in lending and funding, developed digital long-term growth.
branches, enhanced banking transaction
About the Annual Report
This Annual Report is an integrated report containing an overview of important financial data for the last 5 (five) years,
company profile, reports from the Board of Directors and Board of Commissioners, management analysis and discussion
which includes the Company’s performance achievements, compared with the performance of previous years, performance
projections and company prospects. This Annual Report also reports on the implementation of corporate governance which
includes governance structures and processes including the implementation of a risk management system which, among
other things, describes the risk profile and its management. Thus, this Annual Report places historical performance into context
and describes the Company’s risks, opportunities and prospects for the future, so that it is hoped that it can help shareholders
and stakeholders understand the Company’s strategic objectives and its progress in creating sustainable value.
PT Bank Tabungan Negara (Persero) Tbk 1
Page 4
Theme
Continuity
KARENA HIDUP
GAK CUMA TENTANG HARI INI
2023 Annual
Report
PT Bank Tabungan Negara (Persero) Tbk (hereinafter referred to as the Company or Bank BTN) is implementing
a breakthrough product development strategy to capture opportunities arising from the demographics of
the Indonesian population which is dominated by Gen Z and millennials. This is realized by developing Bank
BTN features and services in owning a house, investing and preparing digitally integrated retirement funds
through its Hero Campaign, namely Life is Not Only About Today. Bank BTN invites millennials to develop
their businesses bigger and realize that now is the time to own a house while still living their lifestyle without
having to worry about the mortgage they have. The development of the housing business in the first home
buyer segment as Bank BTN’s captive market is expected to be able to encourage business growth for the
next 10 (ten) years.
DEVELOPMENT OF HOUSING
ECOSYSTEMBASED BUSINESS
TRANSFORMATION AND DIGITALIZATION
2022 Annual
Report
PT Bank Tabungan Negara (Persero) Tbk (hereinafter referred to as “the Bank”, “the Company”, or “BTN”)
has been developing business transformation that involves transforming branch offices’ operating models,
developing Strategic Business Unit (SBU) structures, transforming human capital to support business plans
and improving capabilities of the employees to achieve the 2025 Visions, as well as developing housing loans
(hereinafter referred to as KPR) for the millennials through Transit Oriented Development (TOD) concept.
In line with business transformation, the Company has been enhancing its digitalization capability in
developing housing ecosystem-based business by expanding the value chain of the housing business. This
expansion is conducted by establishing a one-stop shop financial solution, a comprehensive banking service
for commercial SMEs, corporates and institutional customers. In the end, business transformation and housing
ecosystem-based digitalization has been able to improve the Company’s performance as expected by the
stakeholders.
2 PT Bank Tabungan Negara (Persero) Tbk
Page 5
2024
Annual Report
TRANSFORMATION TOWARDS
THE BEST MORTGAGE BANK
2021 Report
Annual
Bearing the spirit of transformation in a sustainable business growth, PT Bank Tabungan Negara (Persero)
Tbk has confidently passed through 2021 while executing its vision and mission. With robust fundamentals
built throughout 2021, Bank BTN’s journey going forward has been strengthened towards the transformation
“To Be The Best Mortgage Bank in Southeast Asia by 2025”.
This year, the Company will continue improving the existing banking services. Disruptions by the COVID-19
pandemic has given the Company opportunities to enhance digital service performance such as banking
from home and mobile banking applications, in addition to creating variations of housing loan, cash
management and savings products to increase customers’ loyalty.
Since its founding, the Company has also been serving as the Government’s partner in supporting the
economy, particularly as the agent of development by distributing over IDR640 trillion loans to more than
five million Indonesian people of all segments while continuously make the endeavor to become a leader
and innovator amidst the national banking competition.
GROWING SUSTAINABLY
DURING THE PANDEMIC
2020 Annual
Report
2020 became a year full of challenges and struggles that has forced us to adapt to the “New Normal”. PT Bank
Tabungan Negara (Persero) Tbk. Was determined to strengthen our innovations/integrity to build an excellent
business by establishing focus and strategic initiatives that became reference
in restoring and spur the Company’s business going forward. For the Company, the COVID-19 pandemic
became a motivation to spur its performance, improve business processes and develop a number of strategies.
Company. also strengthened collaboration and synergy with business partners. This has helped boosting the
distribution of lending, increasing third party funds and noninterest income and improving banking services
to the customers through various digital innovations such as BTN Mobile Banking, BTN Properti Portal, Rumah
Murah BTN Portal, BTN Solusi and Batara Spekta Program.
In the midst of COVID-19 pandemic business process, improvement at the Company was capable to gain
great results. The Company’s profit exceed the target set with growth reaching 655.71% compared to last
year’s position. Third party funds also increased over 23.78% compared to last year. The financial performance
became an evidence that in the midst of pandemic, the employees kept giving their best performance to the
Company.
PT Bank Tabungan Negara (Persero) Tbk 3
Page 6
Table of
Contents
1
Themes and Themes 4 Table of Contents 8 Milestones
Explanation
7 Company at a Glance 10 Our Best Contributions
2 Theme Continuity
Performance Company
Highlights Profile
Important Performance 84 Company Identity
183
Number of Employees Based
16 Achievements in 2024 by Eduational Level
Names and Addresses of
Regional Offices, Conventional Number of Employees by
18 Key Financial Highlights 86 183 Employment Status
Branch Offices and Sharia
Financial Highlights and Branch Offices Employees Composition by
18 Financial Ratios 184
95 Business Partner Networks Years of Service
26 Operational Overview 99 Company Brand 184 Shareholder’s Composition
100 Company at A Glance Composition of the 20
26 Stock Price Information 185 Biggest Shareholders
101 Description of Name Change
29 Corporate Action Shareholders Composition
Company Vision, Mission and 187 5% or More
Temporary Termination of 102 Corporate Culture
Composition of Community
Stocks Trading (Suspension) 187
29 102 Vision Shareholders Less Than 5%
and/or Stock Registration
(Delisting) 103 Mission Shareholding by the Directors
188 and Commissioners
Review of Vision and
Bond, Sukuk and/or Convertible
30 102 Mission by the Board of Shareholding by Senior
Bond Information
Commissioners and Directors
189 Management
Other Funding Source 190 Shareholders Classification
32 Information
104 Corporate Culture
Major and Controlling
106 Business Activities 190
34 Company Rating 2024 Shareholders
Business Activities According
List of Subsidiaries, Associated
36 Corporate Analyst Report to the Articles of Association
106 191 Entities and Joint Venture
and Business Activities
37 Important Events in 2024 Companies
Conducted
Bank Business Group
107 Products and Services 191 Information
124 Operational Area 191 Corporate Group Structure
Report of 129 Organizational Structure 192 Stock Listing Chronology
Directors, Board 128 Association Membership Chronology of Issuance and/
of Commissioners 129 Board of Directors Profile 194 or Listing of Bonds and Other
and Board af 144 Board of Commissioners Profile
Securities
Sharia Supervisory 157 Sharia Supervisory Board Profile 206
Information on the use of
Public Accounting and Public
161 Executive Officers Profile Accounting Office Services
46 Board of Directors Report 182 Employee Profile Name and Address of
206 Supporting Institution and/or
Employee Composition by
64 Board of Commissioners Report 182 Professional
Gender
Board of Sharia Supervisory’s Employee Composition by
213 Awards and Certifications
76 Report 182 Organizational Level Information Available on the
220 Website
Accountability of Annual Report Number of Employees Based
80 183 by Age Range
2024
4 PT Bank Tabungan Negara (Persero) Tbk
Page 7
2024
Annual Report
Risk Exposure
Management Discussion and Capital
and Analysis on Bank Performance Information
224 Economic Overview 330 Capital Structure Details 376 Credit Risk
224 Global Economic Analysis Information on Capital and 415 Market Risk
331
Indonesian Economic Risk Exposure 428 Operational Risk
225
Analysis 332 Capital Goods Investment 430 Liquidity Risk
226 Banking Industry Analysis Commitments and
334
226 Housing Industry Analysis Contingencies
Analysis of BTN in the Banking 334 Agreement and Engagement
228
Industry Material Information and Human
230 Operational Overview 326 Facts after Accounting Report
Date
Capital
230 Bank Strategy Plan
Business Outlook and Future
240 Marketing Aspects 336
Strategies Human Capital Management
434
240 Marketing Strategy Achievement of Targets and Structure
339
256 Market Share Future Targets Human Capital Management
Achievement of Targets
436 Policy and Implementation
257
Customer Complaint 339
2024
Handling 436 Recruitment
Operational Overview per 341 Future Targets (Projection)
260 437 Competency Development
Business Segment Evaluation of Long Term Plans
345 440 Career Development
260 Conventional Segment (RJP)
Dividend Policy, 444 Performance Assessment
282 Sharia Segment 346
Announcement and Payment 445 Remuneration
National Strategic Project
300 348
Realization of Use of Proceeds 447 Pension Program
(PSN) or Other Assignments from Public Offering
302 Financial Review Human Capital Information
Material Information 448 System (HCIS)
302 Financial Performance Regarding Investment,
348 Expansion, Divestment, 450 Cultural Internalization
Statement of Financial
302 Acquisition, or Debt and Information Disclosure
Position 451
Capital Restructuring to Employees
Statement of Profit or Loss
Information on Material Human Capital
310 and Other Comprehensive 452
Transaction Containing Management Structure
Income
350 Conflict of Interest and/or
314 Statement of Cash Flows Transaction with Related 452 Human Capital Work Plan 2025
Ability to Pay Debts and Parties
317
Collectability of Receivables Changes in Legislation and
317 Ability to Pay Debts 360 Regulations and Their Impact
Collectability of
on the Company Information
320
Receivables 362
Changes in Accounting Technology
Policies
322 Fund Interest Rate
364 Bank’s Soundess Level
326 Prime Lending Rate Information Technology
Information on Business 456
Productive Assets Quality 365 Strategy Plan
326 Continuity
Analysis Information Technology
Disclosure of the Governance 458 Innovations
Fee-Based Income Growth 367 Framework, Management and
328
Acceleration Control of Taxation Aspects Information Technology
460 Infrastructure
Growth in Digital Transaction Response to Changes in
329 369
Volume Monetary Policy Direction Information Technology
461 Governance
329 Bank Capital Structure Spot Transactions and
370
Management Policy on Derivative Transactions Information Technology
472 Management Structure
329 Capital Structure and Basis Report on Additional Use of
372
for Determining Policy State Capital Inclusion (PMN) Information Technology Work
473 Plan 2025
PT Bank Tabungan Negara (Persero) Tbk 5
Page 8
Corporate
Governance
Achievements in the Organs and Committees Number of Determination
637
476 Implementation of Corporate Under the Directors 779 (Internal Fraud) and
Governance Resolution Efforts
Implementation of
Fundamentals of Implementation Governance in Providing Provision of Funding for
477 690
of Corporate Governance Remuneration for 779 Social and/or Political
Commercial Banks Activities
Objectives and Principles of
478 Implementation of Governance 697 Public Accountant Provision of Funds to
779 Related Parties and
Commitment on Corporate 699 Internal Control System
479 Provision of Large Funds
Governance Implementation
704 Risk Management Report Share Buyback and Bond
Corporate Governance 779 Buyback
480 Implementation 721 Compliance Function
779 Bank Strategic Plan
Corporate Governance Anti-Money Laundering
487 Structure and Mechanism (AML), Counter-Terrorism Transactions Containing
Financing (CTF), and
780 Conflict of Interest
487 Company Organ Structure
733 Prevention of the
Proliferation of Weapons of 780 Internal Dispute
488 Governance Soft Structure
Mass Destruction (PFWMD) Prevention of Insider
Corporate Governance Program 780 Trading
488 Mechanism
736 Legal Case Transparency of Financial
488 Shareholders
780 and Non-Financial
Administrative Sanctions
General Meeting of Imposed on The Company, Conditions
490 Shareholders Members of The Board Implementation of
737 of Commissioners and Sustainable Finance,
508 Board of Directors Directors by The Capital Including the
Market Authority and Other 780 Implementation of Social
535 Board of Commissioners
Authorities and Environmental
Nomination and Responsibility
Access to Company
576
Remuneration for the 737 Information and Data
Board of Directors and Report of Sharia
781 Business Unit Governance
Board of Commissioners 754 Code of Conducts
Diversity Policy for the Public Company Governance
Policy of Long-Term 798 Implementation Guidelines
582 Board of Directors and Performancebased
Board of Commissioner 759 Compensation to Governance Principles for
Transparency of Share Management Banks Issued by Basel
809 Committee on Banking
Ownership of the Board of
585 760 Whistleblowing System
Supervision
Directors and Board of
Commissioners 769 Anti-Corruption Program Good Corporate Governance
810 Assessment
Organs and Committees Management of State
589 Under the Board of 778 Officials’ Wealth
Commissioners Report (LHKPN)
Social and Environmental
Responsibility Program 826
OJK Reference Index
Financial Report
PUMK Report
Company Soundness Level Report
6 PT Bank Tabungan Negara (Persero) Tbk
Page 9
2024
Annual Report
Company
at a Glance
OWNERSHIP
10.73% Foreign Public
29.27% Domestic Public
Goverment of
60,00%
Republic of Indonesia
of
TOTAL ASSET IDR
469.61
trillion
BUSINESS SEGMENT
Commercial Bank
PRODUCTS AND SERVICES
Conventional
NUMBER OF OFFICES Banking
630 Conventional
Office Networks
110 Sharia Office Sharia
Networks Banking
PT Bank Tabungan Negara (Persero) Tbk 7
Page 10
Milestones
1897 - 1963 1965 - 1992
1897 1965
The Company was first established under the The integration of State-owned Banks and
name of “Postspaarbank” during the rule of the Bank Tabungan Negara into the Central Bank.
Dutch East Indies Government. A Single Bank under the name of Bank Negara
Indonesia, consisting of Bank Tabungan
1942 Negara, Bank Indonesia, Bank Koperasi Tani
dan Nelayan, Bank Umum Negara, BNI 1946 and
The Company was taken over by the Bank Dagang Negara.
Government of Japan and renamed Tyokin
Kyoku or the Savings Office.
1968
1945 The single bank was separated and reopened
as Bank Tabungan Negara, abbreviated to BTN.
The Government of the Republic of Indonesia
seized Tyokin Kyoku and Kantor Taboengan Pos
1971
(Postal Savings Office) was formed.
BTN cooperated with Perum Pos dan Giro
1946 to implement Tabungan Pembangunan
Nasional (Tabanas) and Term-Insurance
All Postal Savings Offices (Kantor Taboengan Savings (Taska).
Pos) were occupied by the Dutch and
temporarily ceased to operate.
1974
1949 Assigned to finance public housing by the
Ministry of Finance.
The Government of Indonesia reopened Postal
Savings Office (Kantor Taboengan Pos) with the
name of Bank Tabungan Pos RI (Postal Savings 1976
Bank of RI).
Realization of BTN mortgage (KPR BTN) for the
first time was in Tanah Mas Housing, Semarang.
1950
The name was changed to “Bank Tabungan 1986
Pos” (Postal Savings Bank) by the Government
of the Republic of Indonesia. In 1986, BTN signed a credit agreement with the
IBRD/World Bank worth US$ 266.55 million.
1953
It was inaugurated as a legal entity under the 1989
Ministry of Transportation and allowed to open a
Branch Office. Issued bonds for the first time and the
first commencement of commercial bank
operations.
1963
The name was changed to Bank Tabungan 1992
Negara and moved under the Ministry of
Central Bank Affairs. Holding the status of a state-owned limited
liability company (Persero).
8 PT Bank Tabungan Negara (Persero) Tbk
Page 11
2024
Annual Report
20
The company 24
launched a
new logo of
BTN
1994 - 2014 2015 - 2022
1994 2015
Obtained permission to operate as a Foreign The Company participated in the success of
Exchange Bank. “One Million Houses for Indonesian”.
2001
2016
Recapitalized by the Government of the
Republic of Indonesia with a value of The Company continued its transformation
IDR13.6 trillion. agenda, such as “Digital Banking Periods”.
2002
2017
With an IBM-AS400-based online real-
time system, information technology was Developing various digital-based products
implemented in all Branch Offices. and services; one of which was the opening
of Smart Branch in Harmoni, Jakarta.
2005
Established Sharia Business Unit and opened 2018
the first Sharia Branch Office at Harmoni,
Developing digital ecosystem to support
Jakarta.
sustainable business as a leading housing
financing bank in Indonesia.
2008
Obtained ISO 9001-2000 Certification for mid-term 2019
credit services with a service pattern of 1-5-1.
Became Housing Market Maker and
2009 strengthened its position as the 5th
Largest Bank.
Mortgage Securitization via the first Assets Backed
Securities Collective Investment Contract (KIKEBA)
was in Indonesia. The Company conducted an 2020
Initial Public Offering (IPO) and was listed on the
Indonesia Stock Exchange (Go Public). Upgraded its vision and mission as Best
Mortgage Bank in Southeast Asia in 2025.
2012
2021
The Company executed Right Issue.
Transformation to achieve
2013 sustainable growth.
The Company transformed into a leading
housing financing bank and worldclass 2022
banking.
The Company carries out corporate actions
2014 in the form of Additional Capital by Providing
Preemptive Rights II (PMHMETD II) in the
The Company and SMF signed Indonesia’s issuance of Preemptive Rights (HMETD)
biggest securitization. or Rights Issue.
PT Bank Tabungan Negara (Persero) Tbk 9
Page 12
Our Best
Contribution
IMPLEMENTATION OF
ESG IN SUSTAINABLE
TRANSFORMATION
In this era where sustainability and social responsibility are becoming
increasing priorities, BTN understands that transparency is a key to building
public trust. By disclosing the information regarding ESG clearly and
transparently, BTN not only meets the regulation compliance but also provides
the stakeholders, including shareholders, customers, and the public.
Moreover, in implementing sustainable ESG, BTN has signed UN Principles
BTN continues its strong for Responsible Banking officially. By doing this action, BTN becomes United
commitment to implementing Nations Environment Programme Financial Initiative (UNEP FI), a board of
environmental, social, and United Nations to enhance sustainable banking industry together with banks
governance (ESG) principles around the world.
as part of becoming The Best
Mortgage Bank in Southeast By becoming a member in UNEP FI and signed that principles, BTN reveals
Asia. BTN’s performance strong commitment towrd improvement of environmental, social, and
in doing ESG transparency governance (ESG). BTN committed to realize its ESG mission: Become the ESG
shows that BTN has become Champion in the banking industry.
more transparent in ESG
implementation. This is proven With the joining of BTN, UNEP FI would help the Company to implement
by the Best ESG Reporting & sustainable finance, and create opportunities to collaborate and best practices
Transparency award from the exchange based on Principles for Responsible Banking. Those will help BTN to
ESG Initiatives Award and the become a pioneer for sustainable finance in banking and finance industry
Corporate Emission Reduction in Indonesia. As a member of UNEP FI, BTN would implement UN Principles for
Transparency Award in the Responsible Banking, which is a framework to encourage sustainable banking,
“Green Elite” Category from according to the vision and mission of the Sustainable Development Goals
the Bumi Global Karbon (SDGs) and Paris Climate Agreement.
Foundation. This achievement
reflects BTN’s positive Concurrently, BTN has an appearent commitment to the implementation of
contribution to sustainable ESG principles in running business and operations. For instance: installation of
development. Not only does it solar panels in BTN offices, procurement of electric vehicles for operations, and
comply with regulations, BTN including the sustainable business activities category in portfolio guidelines.
is also a proactive agent of Furthermore, BTN actively participates in promoting financing for green
change in implementing high housing. BTN is also actively raising awareness of employees, vendors, and
standards in ESG disclosure customers regarding sustainable principles through various activities.
(ESG Disclosure).
10 PT Bank Tabungan Negara (Persero) Tbk
Page 13
2024
Annual Report
BTN AS A BANK FOCUSING ON
THE INFORMAL SECTOR
BTN continues to establish as a bank that prioritizes
the informal sector in fulfilling their dreams of
having a habitable house. That is shown by
BTN’s achievements over the past five years; the
company has allocated KPR to the informal sector
approximately 133,000 or around Rp22 trillion.
Examining the data from the time BTN was founded
as the first KPR bank in December 1976, for a period
of 47 years, one finds that the number is higher.
For the past 47 years, the company has facilitated
the distribution of KPR to the informal sector, in the
range of approximately 410,000 units, with a total
value of around IDR52 trillion.
The informal sector was the primary area of focus for the company over the past five years. The informal labor
sector is considered a potential segment for the banking services business. In addition to the significant number of
informal workers, the lack of access to financial services makes a significant challenge for the Company to develop
solution informal workers. For this reason, the company together with the government and BP Tapera, keeps focusing
on meeting the needs of informal workers in owning a livable house. The government has previously launched KPR
scheme focusing on the informal sector through the Savings-Based Housing Financing Assistance (BP2BT) product,
BTN is currently working in a partnership with BP Tapera to launch the BTN Rumah Tapera Savings product, which is
targeted at informal workers and is associated with housing loans (KPR) under the Housing Financing Liquidity Facility
(FLPP) scheme.
PT Bank Tabungan Negara (Persero) Tbk 11
Page 14
BTN PREPARES FINANCING SUPPORT FOR
150,000 LOW-EMISSION HOUSES
In supporting the Government’s
commitment to accelerate
the supply of liveable, healthy,
and environmentally friendly
houses, BTN improves the
availability of Low Emission
House. In 2029, BTN has
targeted to finance 150,000 Low
Emission Houses. With support
from the Government, BTN
would support continuously in
building Low Emission House.
The movement is related to a
new government program to
build 1 million houses in urban
areas and 2 million houses in
villages around Indonesia each
year.
Building Low Emission Houses will increase the supply of liveable and quality houses and provide a better environment
for the next generation. This initiative would also boost the green economy to become more affordable because
the demand for environmentally friendly components will increase. Houses and activities inside become one of the
biggest carbon emitters including the usage of energy, construction, and maintenance. Creating a better environment
for the future generation becomes an initiative of BTN to enhance the availability of Low Emission House.
This step is a commitment of BTN to face the climate
change challenges and enhance a sustainable national
housing ecosystem. In those pilot projects, BTN utilizes
environmentally friendly materials namely floor decking
that consists of 3.6 kilograms (kg) of plastic waste. This
project would like to use a paving block consisting of 2
kg of plastic waste each one-meter square. By targeting
gradually until 2029, BTN would contribute to decreasing
more than 1.7 million kilograms of plastic waste.
Moreover, carbon emissions will be reduced by 2.42 tons
of CO2. The impact is equivalent to planting 110.000 trees
and 323 hectares of emission absorption.
12 PT Bank Tabungan Negara (Persero) Tbk
Page 15
2024
Annual Report
Besides using environmentally friendly
materials, BTN also supports the
DIGITAL
developers of the Low Emission Carbon
House category to ensure some
TRANSFORMATION
standards. Including energy and water
efficiency, waste management, and
reducing pollution. For energy efficiency,
the environmentally friendly house
should have more ventilation, a high
ceiling, and the ratio of windows to walls
reach 15%-30%. Those standards are In the modern digital era, the majority of the
set to get better air circulation. Water younger generation prefers conducting online
efficiency is achieved through using of transactions to meet their daily needs. This can
a small discharge tap, good sanitation be seen from the number of BTN mobile banking
management, an infiltration well, and users, which has increased by 47% every year,
clean water from the Local Drinking reaching almost two million users in just one
Water Company (PDAM). year. In addition, consumers want personalised
services tailored to the specific needs of different
In waste management, low emission consumers.
house is obligated to have segregated
waste bin. Meanwhile, to reduce In order to deal with these challenges, BTN is
pollution, developer is requested integrating the housing ecosystem and aligning
to plant one tree to absorb carbon it with consumer needs by digital platforms. BTN
emission each house. Moreover, is involved in a digital transformation initiative
pollution reduction is also done by using that focuses on increasing its value proposition
minimum 10% environmentally friendly and facilitating the process for Indonesian
materials in wall and floor, and having families to get the ownership of their dream
green space area around 10% of the houses with more efficiency. This is carried out
total residential area. through comprehensive solutions for all housing
needs with digital KPR platforms, namely BTN
Properti, BTN Properti for Developer, and Smart
Residence. In addition, services related to the
housing sector are accessible through super
applications, specifically BTN Mobile.
PT Bank Tabungan Negara (Persero) Tbk 13
Page 16
PERFORMANCE HIGHLIGHT In 2024, BTN showed significant performance growth in both operational and financial terms. BTN’s performance also received recognition from external parties by receiving awards on a national and international scale. 14 PT Bank Tabungan Negara (Persero) Tbk
Page 17
PT Bank Tabungan Negara (Persero) Tbk 15
Page 18
Performance
Highlights
Important Performance
Achievements in 2024
Total Assets
in 2024 reached
IDR
469.61 trillion
an increase of
7.03%
from 2023
Consumer Savings Consumer Product Commercial Product
in 2024 reached in 2024 reached in 2024 reached
IDR
67.43 IDR
107.64 IDR
303.07
trillion trillion trillion
an increase of an increase of an increase of
4.64% 1.34% 5.73%
from 2023 from 2023 from 2023
16 PT Bank Tabungan Negara (Persero) Tbk
Page 19
2024
Annual Report
Commercial Savings
in 2024 reached an increase of
IDR
264.79 trillion 8.66%
from 2023
Total Equity
in 2024 reached an increase of
IDR
32.57 trillion 6.87%
from 2023
Sharia
Financing
in 2024 reached 18.26%
from 2023
IDR
43.89 trillion
Sharia Savings
Funds
in 2024 reached 18.71%
from 2023
IDR
49.62 trillion
PT Bank Tabungan Negara (Persero) Tbk 17
Page 20
Performance
Highlights
Key Financial
Highlights
Financial Highlights and Financial Ratios
Table of Financial Highlights (in IDR millions)
Description 2024 2023 2022 2021 2020
REPORT OF FINANCIAL POSITION
ASSETS
CASH 2,105,620 2,127,489 1,661,533 1,539,577 1,429,426
CURRENT ACCOUNTS WITH BANK INDONESIA 22,739,920 18,145,761 25,416,941 10,692,484 11,107,672
CURRENT ACCOUNTS WITH OTHER BANKS
Third parties 886,415 1,153,949 963,935 1,000,338 2,995,233
Related parties 5,065,331 1,049,449 508,322 96,460 221,896
Allowance for impairment losses (2,571) (1,804) (1,747) (1,698) (1,808)
5,949,175 2,201,594 1,470,510 1,095,100 3,215,321
PLACEMENTS WITH BANK INDONESIA AND OTHER
BANKS
Third parties 4,661,043 30,561,061 12,975,894 27,900,711 19,830,096
Related parties 61 61 61 337 337
SECURITIES
Third parties 19,874,205 1,454,768 873,109 891,173 1,123,406
Related parties 5,489,205 3,851,105 850,059 1,341,732 2,082,560
Allowance for impairment losses (787) (22,903) (2,399) (2,000) (2,000)
25,362,623 5,282,970 1,720,769 2,230,905 3,203,966
GOVERNMENT BOND
Related parties 35,475,529 35,893,929 51,964,973 46,080,298 56,287,751
SECURITIES PURCHASED UNDER AGREEMENT TO
RESELL
Third parties 175,625 - 1,434,190 1,598,325 954,955
LOANS AND SHARIA FINANCING/RECEIVABLE
Loans
Third parties 286,144,106 268,898,377 247,217,823 229,174,514 217,711,277
Related parties 27,935,999 27,685,483 19,439,742 18,110,919 17,340,839
Allowance for impairment losses (11,727,934) (14,191,536) (14,104,914) (13,165,897) (12,151,936)
302,352,171 282,392,324 252,552,651 234,119,536 222,900,180
Sharia financing/receivables
Third parties 43,681,345 37,027,078 31,367,082 27,102,484 25,059,007
Related parties 211,482 87,203 257,057 447,374 3,040
Allowance for impairment losses (1,329,253) (1,400,428) (1,570,009) (1,269,863) (909,007)
42,563,574 35,713,853 30,054,130 26,279,995 24,153,040
18 PT Bank Tabungan Negara (Persero) Tbk
Page 21
2024
Annual Report
Description 2024 2023 2022 2021 2020
DERIVATIVE RECEIVABLES
Third parties 102,843 32,176 103,939 31,017 70,386
ACCEPTANCES RECEIVABLES
Third parties 508,190 475,821 289,206 - -
Related parties 433,708 68,746 131,356 454,140 196,071
Allowance for impairment losses (1,987) (23,876) (136) (623) (1,393)
939,911 520,691 420,426 453,517 194,678
FIXED ASSETS
Cost/revaluation value 14,059,957 12,953,746 10,599,848 9,468,655 9,053,182
Accumulated depreciation (4,883,826) (4,835,934) (4,246,045) (3,731,864) (3,234,737)
INTEREST RECEIVABLES 11,518,574 11,526,687 10,750,302 9,173,536 6,285,574
DEFFERED TAX ASSETS- Net 2,286,038 2,998,282 2,915,428 2,430,660 1,972,393
OTHER ASSETS 4,205,664 3,235,046 2,352,762 2,505,522 3,784,186
TOTAL ASSETS 469,614,502 438,749,736 402,148,312 371,868,311 361,208,406
LIABILITIES, TEMPORARY SYIRKAH FUNDS AND EQUITY
LIABILITY
LIABILITIES DUE IMMEDIATELY 2,644,422 3,277,514 3,205,358 3,654,236 4,765,276
DEPOSITS FROM CUSTOMER
Demand deposits
Third parties 19,418,767 20,957,283 17,636,481 12,806,732 16,546,465
Related parties 121,604,495 108,412,008 87,264,437 60,556,142 52,054,300
Wadiah demand deposits
Third parties 2,255,148 2,402,428 1,783,134 1,176,350 946,930
Related parties 16,627,618 11,037,037 6,841,675 4,179,603 2,138,165
159,906,028 142,808,756 113,525,727 78,718,827 71,685,860
Saving deposits
Third parties 36,777,689 37,029,999 35,656,990 46,363,367 38,279,792
Pihak berelasi 922,460 692,162 525,339 436,034 420,345
Wadiah saving deposits
Third parties 1,520,491 1,274,456 1,192,775 1,149,143 903,998
Related parties 1,441 2,136 943 1,096 1,211
39,222,081 38,998,753 37,376,047 47,949,640 39,605,346
Time deposits
Third parties 76,672,689 63,976,056 66,808,185 53,067,211 60,918,288
Related parties 76,636,682 76,717,583 79,389,842 93,453,378 86,940,320
153,309,371 140,693,639 146,198,027 146,520,589 147,858,608
Total deposits from customers 352,437,480 322,501,148 297,099,801 273,189,056 259,149,814
DEPOSITS FROM OTHER BANK
Third parties 70,035 91,312 136,408 66,007 29,880
PT Bank Tabungan Negara (Persero) Tbk 19
Page 22
Performance
Highlights
Description 2024 2023 2022 2021 2020
SECURITIES PURCHASED UNDER AGREEMENT TO RESEL
Third parties 2,446,384 - - - -
Related parties 963,042
ACCEPTANCE LIABILITY
Third parties 251,423 320,522 302,037 292,220 196,071
Related parties 690,475 224,045 118,525 161,920 -
LIABILITAS DERIVATIF
Third parties - - - 17,741 22,787
SECURITIES ISSUED
Third parties 844,058 2,403,573 4,297,252 8,094,441 10,835,733
Related parties 4,600,466 5,868,525 4,355,008 4,277,267 4,974,733
LOAN RECEIVED
Third parties 10,132,859 11,308,799 7,365,320 6,499,997 6,798,082
Related parties 23,352,225 22,453,290 17,455,685 15,562,294 17,009,056
INTEREST PAYABLE 658,070 647,496 629,366 496,725 726,914
ESTIMATED LOSSES ON COMMITMENTS AND 3,385 3,580 4,719 3,644 6,489
CONTINGENCIES
EMPLOYEE BENEFITS AND OTHER LIABILITIES 2,372,168 2,951,848 7,248,985 6,618,300 6,666,875
SUBORDINATED LOAN AND SECURITIES
Third parties 4,828,105 4,612,840 4,658,242 4,259,776 4,194,554
Related parties 1,500,000 4,499,997 4,499,977 4,499,968 5,999,878
TOTAL LIABILITIES 407,794,597 381,164,489 351,376,683 327,693,592 321,376,142
TEMPORARY SYIRKAH FUNDS
DEPOSITS FROM CUSTOMERS
Mudharabah current accounts
Third parties 929,940 712,587 468,889 467,333 341,653
Related parties 11,985 13,474 11,897 12,281 17,033
Mudharabah saving deposits
Third parties 6,161,887 5,331,249 4,730,686 3,466,529 2,683,283
Related parties 125,893 141,993 88,427 505,563 430,860
Mudharabah time deposits
Third parties 15,129,659 11,975,188 11,886,366 8,887,336 11,022,780
Related parties 6,857,408 8,908,369 7,637,191 9,424,102 5,345,495
Total deposits from customers 29,216,772 27,082,860 24,823,456 22,763,144 19,841,104
DEPOSITS FROM OTHER BANKS
Mudharabah current accounts
Third parties 9,214 4,154 56 46 176
Mudharabah saving deposits
Third parties 21,730 14,781 19,674 1,882 2,139
Mudharabah time deposits
Third parties 300 4,300 19,089 3,000 1,000
Total deposits from other banks 31,244 23,235 38,819 4,928 3,315
TOTAL TEMPORARY T SYIRKAH FUNDS 29,248,016 27,106,095 24,862,275 22,768,072 19,844,419
20 PT Bank Tabungan Negara (Persero) Tbk
Page 23
2024
Annual Report
Description 2024 2023 2022 2021 2020
EQUITY
Capital stock - Rp500 par value per share (full
amount) as of December 31, 2023 and 2022,
respectively
Authorized capital 20,478,432,00 shares (full
amount) (consisting of 1 share of Series A
Dwiwarna and 20,478,431,999 shares of series B)
as of December 31, 2023 and 2022, respectively.
Issued and fully paid capital 14,034,444,413 7,017,222 7,017,222 5,295,000 5,295,000 5,295,000
shares (full amount) (consisting of 1 share of
series A Dwiwarna and 14,034,444,412 shares
of series B) as of December 31, 2023 and
10.590.000.000 shares (full amount) (consisting of
1 share of series A Dwiwarna and 10.589.999.999
shares of series B) As of December 31, 2022.
Additonal paid-in capital 4,418,900 4,418,900 2,054,454 2,054,454 2,054,454
Capital deposit fund - - 2,756,575 - -
Net unrealized gain allowance for and (1,107,982) (769,001) (1,193,252) 87,817 1,100,019
impairment losses on securities and
government at fair value through other
comprehensive income net of deferred tax
Remeasurement
Defined Benefit Program - after deferred tax (424,015) (560,339) (409,657) (458,153) (531,674)
Effective portion of cash flow hedge (44,082) (32,346) (49,301) (19,983) (1,239)
Revaluation surplus of premises and equipment 3,565,773 3,565,773 3,508,565 3,307,991 3,307,991
Retained earnings*)
Appropriated 15,982,004 13,181,214 10,745,157 8,606,555 7,004,198
Unappropriated 3,164,069 3,657,729 3,201,813 2,532,966 1,759,096
TOTAL EQUITY 32,571,889 30,479,152 25,909,354 21,406,647 19,987,845
TOTAL LIABILITIES, TEMPORARY SYIRKAH FUNDS 469,614,502 438,749,736 402,148,312 371,868,311 361,208,406
AND EQUITY
REPORTS OF INCOME STATEMENET AND OTHER COMPREHENSIVE INCOMES
INCOME AND EXPENSES FROM OPERATIONS
Interest Income and Profit Sharing
Interest 25,472,625 24,722,529 23,233,200 23,413,857 22,947,252
Profit sharing and margi from sharia unit 4,068,967 3,558,723 2,674,168 2,381,101 2,169,236
Total Interest Income and Income from Profit 29,541,592 28,281,252 25,907,368 25,794,958 25,116,488
Sharing
Interest, Profit Sharing and Bonus Expenses
Interest (15,913,459) (13,203,108) (9,866,919) (11,670,728) (14,687,492)
Other financing expenses (200,476) (203,317) (169,804) (177,585) (147,146)
Wadiah Bonus (153,446) (71,621) (57,558) (32,175) (21,782)
Third parties’ share on return of Mudharabah (1,781,559) (1,372,916) (815,803) (923,167) (1,335,517)
Total Interest, Profit Sharing and Bonus Expenses (18,048,940) (14,850,962) (10,910,084) (12,803,655) (16,191,937)
Interest Income and Income from Profit Sharing 11,492,652 13,430,290 14,997,284 12,991,303 8,924,551
- Net
Other Operating Income
Administration fees and penalties on deposits 1,072,304 1,096,346 965,441 852,953 760,751
and loans
PT Bank Tabungan Negara (Persero) Tbk 21
Page 24
Performance
Highlights
Description 2024 2023 2022 2021 2020
Income from recovery of loans written-off 1,338,753 934,191 431,591 304,810 275,538
(loss) Gain on sale of securities - net 932,900 6,669 - 76,734 356,168
(loss) Gain on sale of government bonds - net 49,049 541,392 - 818,679 308,351
(loss) Unrealized gain on changes in fair value 30,175 1,802 - (135,338) 18,493
of securities - net
(loss) Unrealized gain on changes in fair value - - 55,045 (18,778) 87,011
of bonds - net
Others 1,152,738 1,310,747 822,775 463,507 708,295
Total Other Operating Income 4,575,919 3,891,147 2,274,852 2,362,567 2,514,607
Provision for Impairment Losses on Financial and (1,981,495) (3,765,397) (4,017,378) (3,627,477) (2,258,479)
Non-financial Assets
(Provision for) reversal of Estimated losses on 195 1,139 (1,075) 2,845 (3,784)
Comitment and Contingencies
Other Operating Expenses
General and administrative (4,456,861) (3,884,779) (3,754,028) (3,358,846) (3,114,260)
Salaries and employee benefits (4,445,575) (3,982,503) (4,190,298) (3,782,925) (2,977,208)
Premium on government’s guarantee (729,685) (656,774) (599,991) (619,667) (469,360)
program
Unrealized losses from changes in fair value of (40,444) (5,780) - - -
government bonds - net
Loss from sale of government bonds - net - - (266,235) - -
Loss from sale of securities - net - - (234,089) - -
Unrealized losses from changes in fair value of - - (64,931) - -
securities - net
Others (589,993) (487,614) (329,308) (930,968) (285,782)
Total Other Operating Expenses (10,262,558) (9,017,450) (9,438,880) (8.692.406) (6,846,610)
INCOME FROM OPERATION 3,824,713 4,539,729 3,814,803 3,036,832 2,330,285
NON-OPERATING INCOME (EXPENSES) - NET (51,872) (159,519) 60,887 (43,512) (59,428)
INCOME BEFORE TAX EXPENSE 3,772,841 4,380,210 3,875,690 2,993,320 2,270,857
TAX EXPENSE (765,513) (879,222) (830,617) (617,093) (668,499)
INCOME FOR THE YEAR 3,007,328 3,500,988 3,045,073 2,376,227 1,602,358
Other Comprehensive Income:
Items that will not be reclassified to profit or loss
Surplus revaluation of fixed asset - 57,208 200,574 - -
Remeasurement of defined benefit plan 168,301 (186,027) 59,872 75,005 (397,512)
Income tax related to items that will not be (31,977) 35,345 (11,376) (1,484) 60,545
reclassified to profit or loss
Items that will be reclassified to profit or loss
Effective part of hedging- cash flow (14,490) 20,932 (40,883) (18,744) (1,239)
Net unrealized gain (loss) on changes in value of (421,538) 517,528 (1,576,967) (1,259,616) 1,342,481
fair value through other comprehensive income
securities and government bonds
Income tax related to items that will be 85,311 (97,254) 307,463 247,414 (253,922)
reclassified to profit or loss
Total Comprehensive Income for the Year 2,792,935 3,848,720 1,983,756 1,418,802 2,352,711
EARNINGS PER SHARE Basic (full amount) 214 249 288 224 151
22 PT Bank Tabungan Negara (Persero) Tbk
Page 25
2024
Annual Report
Description 2024 2023 2022 2021 2020
CASH FLOWS REPORT
CASH FLOWS FROM OPERATING ACTIVITIES
Interest, profit sharing, and margin 29,689,639 27,618,186 24,331,326 22,427,061 22,025,695
Recoveries from loan debts written-of 1,421,221 1,011,258 503,307 362,436 331,915
Interest and bonus, fees and commissions paid (17,973,763) (14,892,249) (10,775,222) (13,027,787) (16,095,612)
Corporate income tax paid (912,208) (1,020,952) (1,001,324) (820,461) (341,466)
Recoveries from tax assessment letter - - 402,428 - -
Other operating expenses - net (9,585,564) (8,729,240) (8,633,782) (5,927,136) (3,986,344)
Other operating income 3,213,023 2,938,412 1,737,599
Other non-operating (expenses) income - net (63,538) (54,382) 13,828 (27,932) (59,428)
Cash receipts before changes in operating 5,788,810 6,871,033 6,578,160 2,986,181 1,874,760
assets and liabilities
Changes in operating assets and liabilities:
Decrease (increase) in operating assets:
Placements with bank other bank - - - 947,105 (595,305)
Fair value through profit or loss securities (18,286,677) (246,380) (104,885) 849,641 172,622
Fair value through profit or loss government 490,445 15,788,979 (4,955,939) 4,842,769 (18,122,548)
bonds
Acceptance receivable (397,331) (124,005) 33,578 (258,069) -
Derivative bills (70,666) - -
Loans and sharia financing/ receivables (27,739,554) (38,484,306) (26,318,471) (16,988,247) (7,255,860)
Other assets (136,021) (785,307) (196,503) 1,241,584 (1,285,447)
Increase (decrease) in operating liabilities:
Liabilites due immediately (441,930) 74,415 (466,852) (1,120,009) 2,446,942
Deposits from customer
Demand deposits 11,653,971 24,468,372 31,538,044 4,762,109 20,492,649
Wadiah demand deposits 5,443,299 4,814,656 3,268,857 2,270,858 492,085
Savings deposits (22,012) 1,539,832 (10,617,072) 8,099,264 (2,784,772)
Savings deposits Wadiah 245,340 82,875 43,479 245,030 115,320
Time deposits 12,615,733 (5,504,388) (322,562) (1,338,019) 33,928,841
Deposits from other banks (21,277) (45,095) 70,400 36,127 (4,479,357)
Acceptance liability 397,331 124,005 (33,578) 258,069 -
Other liabilities (416,997) (4,184,154) 654,214 (206,114) 303,204
Temporary syirkah fund 2,141,920 2,243,821 2,094,203 2,923,653 1,355,469
Net Cash provided by Operating Activities (8,755,616) 6,634,353 1,265,073 9,551,932 26,658,603
CASH FLOWS FROM INVESTING ACTIVITIES
(Purchase) receipt at maturity of amortized cost (2,878,561) (2,868,515) 199,964 - 1,061,584
securities
Acquisition of fixed assets (1,634,521) (2,313,490) (1,042,464) (415,473) (798,086)
(Purchase) receipt of securities measured at fair (31,199) (1,247,159) 381,580 330,249 1,082,203
value through other comprehensive income
(Purchase) Receipts of government bonds (1,163,910) 2,211,325 5,714,402 10,722,233 (25,844,225)
are measured at fair value through other
comprehensive income.
PT Bank Tabungan Negara (Persero) Tbk 23
Page 26
Performance
Highlights
Description 2024 2023 2022 2021 2020
Receipt (purchase) of government bonds at 562,232 (1,655,566) (7,816,426) (5,922,417) (148,619)
amortized cost
Purchase of amortized cost government bonds - - - (236,767) -
Receipt of securities purchased under 20,704,263 45,031,457 165,683,898 - 920,267
agreement to resell
Placement of securities purchased under (20,867,689) (43,597,267) (165,520,488) (643,370) -
agreement to resell
Sale of fixed assets 3,045 - - - -
Net Cash used in Investing Activities (5,306,340) (4,439,215) (2,399,534) 3,834,455 (23,726,876)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds of securities issued 680,913 2,449,019 1,541,330 10,186 1,493,811
Payment of matured securities issued (3,572,500) (2,769,764) (5,263,000) (3,455,000) (5,322,500)
Payments of matured subordinated loan and (3,000,000) - - (3,000,000) -
securities
Proceeds from securities sold under repurchase 143,153,604 67,691,353 592,326 1,716,191 -
agreements
Payments of matured securities sold under (139,744,766) (67,691,353) (592,326) (1,716,191) (935,000)
repurchase agreements
Payments of dividends (700,198) (609,015) (237,624) - (20,927)
Proceeds from fund borrowings 11,144,193 11,185,162 11,814,826 6,455,429 9,141,448
Payment of fund borrowings (11,385,262) (2,187,576) (9,095,884) (8,204,691) (7,823,008)
Proceeds from subordinated securitie - - 1,500,000 4,047,884
Payment of lease liabilities (93,408) (81,973) (84,983) (99,959) (125,788)
Payments on loans and subordinated securities - - - (3.000.000) -
due
Capital deposit fund - 1,330,093 2,756,575 - -
Cash Flows From Financing Activities (3,517,424) 9,315,946 1,431,240 (6,794,035) 455,920
NET INCREASE (DECREASE) IN CASH AND CASH (17,579,380) 11,511,084 296,779 6,592,352 3,387,647
EQUIVALENTS
CASH AND CASH EQUIVALENTS AT BEGINNING OF 53,037,770 41,526,686 41,229,907 34,637,555 31,249,908
YEAR
CASH AND CASH EQUIVALENTS AT END OF YEAR 35,458,390 53,037,770 41,526,686 41,229,907 34,637,555
The details of cash and cash equivalents at end
of year are as follows:
Cash 2,105,620 2,127,489 1,661,533 1,539,577 1,429,426
Current accounts with Bank Indonesia 22,739,920 18,145,761 25,416,941 10,692,484 11,107,672
Current accounts with other banks 5,951,746 2,203,398 1,472,257 1,096,798 3,217,129
Placements with Bank Indonesia and other 4,661,104 30,561,122 12,975,955 27,901,048 18,883,328
banks - maturing within three months or less
since the acquisition date
Total 35,458,390 53,037,770 41,526,686 41,229,907 34,637,555
24 PT Bank Tabungan Negara (Persero) Tbk
Page 27
2024
Annual Report
Description 2024 2023 2022 2021 2020
FINANCIAL RATIO (%)
LIQUIDITY
Loan to Deposit Ratio (LDR) 93.79 95.36 92.65 92.86 93.19
CASA 53.73 48.52 44.30 41.11
PROFITABILITY
Profit and Loss to Revenue Ratio 8.81 10.88 10.80 8.44 5.80
Return On Asset (ROA) 0.83 1.07 1.02 0.81 0.69
Return On Equity (ROE) 10.76 13.86 16.42 13.64 10.02
Net Interest Margin (NIM) 2.86 3.75 4.40 3.99 3.06
EFFICIENCY
Operating Expenses to Operating Revenues 88.70 86.10 86.00 89.28 91.61
(BOPO)
SOLVENCY
Liabilities to Total Assets Ratio 93.06 86.88 87.37 88.12 88.97
Liabilities to Total Equity Ratio 1,341.78 1,250.57 1,356.18 1,530.80 1,607.86
CREDIT QUALITY
Non Performing Loan (NPL) Gross 3.16 3.01 3.38 3.70 4.37
Non Performing Loan (NPL) Netto 1.89 1.32 1.32 1.20 2.06
PRODUCTIVE ASSETS
Non Performing Productive Assets to Total 2.60 2.58 2.74 2.99 3.56
Productive Assets
Allowance for Impairment on Productive Assets 3.07 4.14 4.41 4.42 4.03
to Total Productive Assets
CAPITAL
Minimum Capital Adequacy Ratio 18.50 20.07 20.17 19.14 19.34
COMPLIANCE
BMPK Violation Percentage
Related Parties 0.00 0.00 0.00 0.00 0.00
Non Related Parties 0.00 0.00 0.00 0.00 0.00
BMPK Exceedance Percentage
Related Parties 0.00 0.00 0.00 0.00 0.00
Non Related Parties 0.00 0.00 0.00 0.00 0.00
Minimum Statutory Reserve (GWM)
Primary Statutory Reserve IDR
Conventional 5.38 6.04 8.28 3.55 3.16
Sharia 4.70 6.10 7.76 3.70 3.15
Statutory Reserve (Foreign Currency) 4.18 4.40 4.13 6.24 4.63
Net Open Position (PDN) 1.29 1.73 4.17 2.63 3.17
OTHER RATIO
Cost to Income Ratio (CIR) 57.15 45.26 46.66 48.18 53.85
* deficit balance is Rp14.226.290 has been eliminated by quasire organization on May 31, 2007.
PT Bank Tabungan Negara (Persero) Tbk 25
Page 28
Performance
Highlights
Operational Overview
(in IDR millions)
Description 2024 2023 2022 2021 2020
CONSUMER BANKING
Consumer Loan Disbursement 40,207,160 42,450,499 41,795,595 32,948,775 24,812,869
Consumer Deposits 67,432,408 63,770,218 68,190,039 68,770,476 65,777,811
COMMERCIAL BANKING
Commercial Loan Disbursement 38,278,495 42,963,396 37,654,912 19,923,399 15,416,031
Consumer Deposits 264,793,641 243,694,432 223,893,013 197,961,260 189,525,768
SHARIA BUSINESS UNIT
Sharia Financing Disbursement 43,892,827 37,114,281 31,624,139 27,549,858 4,658,912
Shari Deposits 49,622,208 41,802,885 34,640,775 29,269,336 23,831,409
Stock
Information
Table of BTN Stock Price, Volume, and Capitalization for 2023-2024 (in IDR millions)
Price per Shares (IDR) Total
Trading
Outstanding Market
Volume
Year Stock Capitalization
Opening Highest Lowest Closing (Million
(Million (IDR Trillion)
(IDR) (IDR) (IDR) (IDR) Shares)
Shares)
2023
Quarter I 1,335 1,400 1,175 1,225 14,03 2,265 17,19
Quarter II 1,225 1,340 1,215 1,320 14,03 1,770 18,53
Quarter III 1,315 1,370 1,220 1,220 14,03 1,304 17,12
Quarter IV 1,240 1,295 1,190 1,250 14,03 819 17,54
2024
Quarter I 1,250 1,600 1,250 1,555 14,03 3,041 17,54
Quarter II 1,490 1,515 1,175 1,265 14,03 2,204 21,82
Quarter III 1,275 1,535 1,245 1,450 14,03 2,110 20,35
Quarter IV 1,465 1,505 1,110 1,140 14,03 1,440 16,00
26 PT Bank Tabungan Negara (Persero) Tbk
Page 29
2024
Annual Report
Graph of BTN Stock Transaction Volume for 2023-2024
1,800
1,600 1,555
1,450
1,400 1,320
Closing Share Price (IDR)
1,225 1,250 1,265
1,220
1,200 1,140
1,000
800
600
400
200
-
Quarter I Quarter II Quarter III Quarter IV Quarter I Quarter II Quarter III Quarter IV
2023 2024
Graph of BTN Stock Trading Volume for 2023-2024
3,500
Stock trading volume (Million Shares)
3,041
3,000
2,500
2,265 2,204
2,110
2,000
1,770
1,440
1,500 1,304
1,000 819
500
-
Quarter I Quarter II Quarter III Quarter IV Quarter I Quarter II Quarter III Quarter IV
2023 2024
PT Bank Tabungan Negara (Persero) Tbk 27
Page 30
Performance
Highlights
Graph of BTN Stock Price Movement and Trading Volume for 2023-2024
3,500
3,041
3,000
2,500
2,265 2,204
2,110
2,000
1,770
1,440
1,500 1,304 1,250
1,555
1,450
1,320 1,265
1,000 1,225 1,220 819 1,140
500
-
Quarter I Quarter II Quarter III Quarter IV Quarter I Quarter II Quarter III Quarter IV
2023 2024
Stock Trading Volume (Million Shares) Closing
Table of BTN Stock Information Summary for 2020-2024
Indicator BBTN 2024 BBTN 2023 BBTN 2022 BBTN 2021 BBTN 2020
Opening Price (IDR/ per share) 1.250 1.335 1.668 1.735 2.15
Highest Price (IDR/ per share) 1.600 1.400 1.798 2.15 2.16
Lowest Price (IDR/ per share) 1.110 1.175 1.311 1.23 745
Closing Price (IDR/ per share) 1.140 1.250 1.350 1.73 1.725
Trading Volume (million shares) 8.795 5.416 5.563 10.502 16.981
Book Value Per Share (IDR) 2.281 2.071 2.131 1.988 1.887
Price to Book Value (times) 0,51 0,60 0,63 0,89 0,91
Price to Earning Ratio (times) 4,98 5,53 4,73 9,28 11,40
Total Outstanding Stock (million shares) 14,03 14,03 12,87 10.59 10.59
Market Capitalization (IDR Trillion) 16,00 17,54 17,46 18,32 18,27
28 PT Bank Tabungan Negara (Persero) Tbk
Page 31
2024
Annual Report
Throughout 2023, Company succeeded in being listed as one of the constituents in several leading Stock:
Indeks Period
LQ45 February 2024 - January 2025
IDX BUMN20 February 2024 – February 2025
IDX80 February 2024 – January 2025
IDX Small-Mid Cap (IDX SMC) Composite February 2024 – February 2025
IDX Small-Mid Cap (IDX SMC) Liquid February 2024 – February 2025
Kompas100 February 2024 - January 2025
Infobank15 January 2024 – December 2024
MSCI Indonesia Small Cap January 2024 – December 2024
ESG Sector Leaders IDX Kehati March 2024 – May 2025
ESG Quality 45 IDX Kehati March 2024 – May 2025
IDX Value30 February 2024 – February 2025
Investor33 March 2024 – May 2025
IDXFINANCE January 2024 – June 2025
SRI-KEHATI March 2024 – May 2025
IDX LQ45 Low Carbon Leaders February 2024 – February 2025
TEMPO-IDNFINANCIALS 52 June 2024 – December 2024
INFOBANK15 January 2024 – December 2024
PEFINDO Prime Bank January 2024 – December 2024
IDXECONOMIC30 July 2024 – February 2025
PRIMBANK10 January 2024 – December 2024
MBX March 2024 - May 2025
IDX Growth30 February 2024 – February 2025
Corporate Action
In 2024, BTN will not carry out any Corporate Actions related to activities that affect the number of shares in circulation,
including stock splits, stock mergers, stock dividends, bonus shares and changes in the nominal value of shares.
Temporary Suspension of Stock Trading (Suspension)
and/or Stock Registration Delisting
As of December 31, 2024, the Company has never been subjected to a temporary suspension of stock trading
(suspension) and/or stock delisting.
PT Bank Tabungan Negara (Persero) Tbk 29
Page 32
Performance
Highlights
Information on Bonds, Sukuk,
and/or Convertible Bonds
Bond Information
Table of BTN Bonds
Electronic Bond Tenor Total Bonds Bid
Description Currency
Distribution Date (Years) (millions) Price
Sustainable Bond II Bank BTN Phase I Year 100% of the Bond
July 8, 2015 10 IDR 800.000
2015 Series D Principal Amount
Sustainable Bond III Bank BTN Phase I 100% of the Bond
July13, 2017 7 IDR 853.000
Year 2017 Series C Principal Amount
Sustainable Bond III Bank BTN Phase I 100% of the Bond
July 13, 2017 10 IDR 1.386.000
Year 2017 Series D Principal Amount
Sustainable Bond III Bank BTN Phase II 100% of the Bond
June 28, 2019 5 IDR 1.219.500
Year 2019 Series D Principal Amount
100% of the Bond
Junior Global Bond Bank BTN January 23, 2020 5 USD 300
Principal Amount
Sustainable Bond IV Bank BTN Phase I 100% of the Bond
August 19, 2020 5 IDR 196.000
Year 2020 Series C Principal Amount
Sustainable Bond IV Bank BTN Phase II 100% of the Bond
May 24, 2022 3 IDR 600.000
Year 2022 Series A Principal Amount
Sustainable Bond IV Bank BTN Phase II 100% of the Bond
May 24, 2022 5 IDR 400.000
Year 2022 Series B Principal Amount
Notes:
- The ratings for domestic securities with outstanding balances in 2021 use ratings from Pefindo.
- The ratings for domestic securities issued and with outstanding balances in 2022 use ratings from Fitch.
- The rating for BTN’s Junior Global Bond (USD) issued in 2020 uses ratings from Moody’s.
- The ratings for domestic securities with outstanding balances in 2023 use rating from Pefindo.
Sukuk Information
Table of BTN Sukuk
Electronic
Amount
Sukuk Tenor Payment
Description Currency of Sukuk Due date Ratio rate Information
Distribution (Month) Status
(Millions)
Date
BTN Sukuk July 28, 159 IDR 92,553 October 11,00% of the revenue Not yet These Securities
I Year 2023 2023 28, 2036 shared with an due are not rated
Phase I indication of profit and there is no
sharing equivalent to public offering.
0,55% per year.
BTN Sukuk December 156 IDR 175,039 December 27,40% of the revenue Not yet These Securities
I Year 2023 27, 2023 27, 2036 shared with an due are not rated
Phase II indication of profit and there is no
sharing equivalent to public offering.
1,37% per year.
30 PT Bank Tabungan Negara (Persero) Tbk
Page 33
2024
Annual Report
Rating
Due Interest Payment
Trustee
Date Rate Status
2024 2023
July 8, 2025 10,5% Not yet due AA+(idn) AA+(idn) Bank BJB
July 13, 2024 8,70% Paid off - AA+(idn) Bank Mega
July 13, 2027 8,90% Not yet due AA+(idn) AA+(idn) Bank Mega
June 28, 2024 9,00% Paid off - AA+(idn) Bank Mega
January 23, 2025 4,20% Not yet due Ba3 Ba3 Bank BJB
August 19, 2025 8,40% Not yet due AA+(idn) AA+(idn) Bank BJB
May 24, 2025 5,50% Not yet due AA+(idn) AA+(idn) Bank BJB
May 24, 2027 6,0% Not yet due AA+(idn) AA+(idn) Bank BJB
Information of Convertible Bonds
As of December 31,2024, the Company did
not issue any convertible bonds, thus the
Company has no information regarding
convertible bonds.
PT Bank Tabungan Negara (Persero) Tbk 31
Page 34
Performance
Highlights
Information
of Other Funding Sources
KPR Securitization
Tabel of House Loan (KPR) BTN Securitization
Securitization
No. Total Amount (IDR) Class Nominal (IDR)
Transactions
A1 400.000.000.000
1. EBA-SP SMF-BTN 02 1.000.000.000.000 A2 513.000.000.000
B 87.000.000.000
A1 200.000.000.000
2. EBA-SP SMF-BTN 03 1.000.000.000.000 A2 713.000.000.000
B 87.000.000.000
A1 700.000.000.000
3. EBA-SP SMF-BTN 04 2.000.000.000.000 A2 1.124.000.000.000
B 176.000.000.000
A1 574.000.000.000
A2 1.142.000.000.000
4. EBA-SP SMF-BTN 05 2.000.000.000.000
M 24.000.000.000
B 260.000.000.000
A 576.734.000.000
5. EBA-SP SMF-BTN 06 631.000.543.015
B 54.266.543.015
A 452.500.000.000
EBA-SP SMF-BTN 07
6. 500.000.001.416
B 47.500.001.416
A 544.800.000.000
7. EBA-SP SMF-BTN 08 600.000.020.055
B 55.200.020.055
Property
Recommendations
Find various housing options
throughout Indonesia
32 PT Bank Tabungan Negara (Persero) Tbk
Page 35
2024
Annual Report
Transaction Date Due Date Average Life Class A Coupon Class A Rating
A1 = 8,15%
October 31, 2016 June 27, 2027 7,05 id
AAA
A2 = 8,75%
A1 = 8,00%
April 28, 2017 January 07, 2028 7,78 id
AAA
A2 = 8,40%
A1 = 7,00%
February 28, 2018 May 07, 2029 7,03 id
AAA
A2 = 7,50%
A1 = 8,50%
id
AAA
A2 = 8,75%
November 27, 2019 May 07, 2032 9,09
M = 10,40% id
A
December 30, 2020 July 07, 2032 6,08 6,50% id
AAA
December 23, 2022 January 07, 2034 5,66 7,70% id
AAA
September 26, 2023 August 07, 2035 7,44 6,65% id
AAA
Negotiable Certificate of Deposit
Table of Negotiable Certificate of Deposit BTN
Issuance Date of Nominal Per
Type NCD Series Tenor Due Date Rate
Nominal (IDR) Transaction Series
A 6 months April 1,7 2024 6,40% 500.000.000.000
NCD Phase October 20,
1.500.000.000.000 B 9 months Juli 16, 2024 6,45% 70.000.000.000
Year 2023 2023
C 12 months Oktober 21,2024 6,53% 930.000.000.000
PT Bank Tabungan Negara (Persero) Tbk 33
Page 36
Performance
Highlights
Long Term Notes (LTN)
Table of Long-Term Notes (LTN) BTN
Electronic Distribution Tenor Total LTN
Description Currency
Date of LTN (Month) (thousands)
LTN BTN Phase I Year
December 17, 2021 186 IDR 10.185.851
2021
LTN BTN II Year 2022
July 12, 2022 171 IDR 47.740.325
Series A
LTN BTN II Year 2022
July 12, 2022 177 IDR 79.378.706
Series B
LTN BTN III Phase I Year
December 14, 2022 177 IDR 210.866.282
2022
LTN BTN III Phase II Year
December 28, 2022 171 IDR 131.184.885
2022
LTN BTN IV Phase I Year
July 28, 2023 165 IDR 35.898.139
2023
LTN BTN IV Phase II Year
September 15, 2023 168 IDR 404,745.014
2023
LTN BTN IV Phase III Year
December 27, 2023 180 IDR 6,241,671,188
2023 – Series A
LTN BTN IV Phase III Year
December 27, 2023 168 IDR 234,541,750,854
2023 – Series B
LTN BTN IV Year 2024
Mei 07, 2024 171 IDR 203,350,626,300
Phase IV
LTN BTN IV Year 2024
September 27, 2024 171 IDR 312,678,083,000
Phase V
LTN BTN IV Year 2024
December 23, 2024 168 IDR 147,909,042,000
Phase VI
Note:
LTN BTN Securities are not rated and issued through offering to BP Tapera.
2024
Company Rating
Moody’s rating as of November 29, 2024
Information Rating
Outlook Stable
Counterparty Risk Rating Baa2/P-2
Bank Deposits Baa2/P-2
Baseline Credit Assessment ba1
Adjusted Baseline Credit Assessment ba1
Counterparty Risk Assessment Baa2 (cr)/P-2 (cr)
Subordinate Ba3 (hyb)
34 PT Bank Tabungan Negara (Persero) Tbk
Page 37
2024
Annual Report
Due Date Interest rate Payment Status Information
These Securities are not rated
June 17, 2037 1.37% fix Not yet due
and there is no public offering
These Securities are not rated
Oktober 12, 2036 1.37% fix Not yet due
and there is no public offering
These Securities are not rated
April 12, 2037 0.55% fix Not yet due
and there is no public offering
These Securities are not rated
June 14, 2037 0.55% fix Not yet due
and there is no public offering
These Securities are not rated
March 28, 2037 0.55% fix Not yet due
and there is no public offering
These Securities are not rated
April 28, 2037 0.55% fix Not yet due
and there is no public offering
These Securities are not rated
September 15, 2037 1.37% fix Not yet due
and there is no public offering
These Securities are not rated
December 27, 2038 0.55% fix Not yet due
and there is no public offering
These Securities are not rated
December 27, 2037 1.37% fix Not yet due
and there is no public offering
These Securities are not rated
07 Agustus 2038 1.37% fix Not yet due
and there is no public offering
These Securities are not rated
December 27, 2038 1.37% fix Not yet due
and there is no public offering
These Securities are not rated
December 23, 2038 1.37% fix Not yet due
and there is no public offering
Fitch ratings as of October 23, 2024
Information Rating
Outlook Stable
Long-term National Rankings AA+(idn)
Short-term national Rankings F1+(idn)
Pefindo ranking as of July 5, 2024
Information Rating
Outlook Stable
National Rankings idAAA
PT Bank Tabungan Negara (Persero) Tbk 35
Page 38
Performance
Highlights
Corporate
Analyst Report
Table of Company Corporate Analyst Report
Broker
No Company Analyst Recommendation Target Price
Code
1. PT Indo Premier Securities PD Anthony Buy 2.120
2. Yuanta Investment Consulting FS Yap Swie Cu Buy 2.100
3. RHB Research DR Andrey Wijaya Buy 1.990
4. MNC Securities EP Tirta Citradi Buy 1.900
5. PT Ciptadana Sekuritas KI Erni Siahaan Buy 1.825
6. PT Aldiracita Sekuritas PP Agus Pramono Buy 1.800
7. UOB KayHian (Equity) AI Posmarito Pakpahan Buy 1.740
8. UBS Securities AK Joshua Tanja Buy 1.700
9. BCA Sekuritas SQ Christoper Benas Buy 1.700
10. Mandiri Sekuritas CC Kresna Hutabarat Buy 1.700
11. CLSA KZ Sarina Lesmina Accumulated 1.650
12. Sucor Sekuritas AZ Edward Lowis Buy 1.640
13. Panin Sekuritas GR Nico Laurens Buy 1.600
14. PT Verdhana Sekuritas Indonesia BB Nicholas Santoso Neutral 1.550
15. Trimegah Securities LG Jonathan Gunawan Buy 1.540
16. OCBC Sekuritas TP Budi Rustanto Buy 1.500
17. CGS International YU Handy Noverdanius Add 1.500
18. PT BRI Danareksa Sekuritas OD Victor Stefano Buy 1.500
19. DBS Bank DP Rui Wen Lim Hold 1.400
20. Macquarie RX Jayden Vantakris Outperform 1.385
21. PT Sinarmas Sekuritas DH Ivan Purnama Putera Add 1.350
22. BNI Securities NI Yulinda Hartanto Hold 1.350
23. Bahana Securities DX Satria Sambijantoro Hold 1.225
24. Samuel Sekuritas Indonesia IF Prasetya Gunadi Sell 1.100
36 PT Bank Tabungan Negara (Persero) Tbk
Page 39
2024
Annual Report
Important Events
2024
15 January
Bank BTN became the member
of the United Nations Environment
Programme Financial Initiative
Bank BTN officially signed the United Nations (UN) Principles for member at UNEP FI and signing these Principles, Bank BTN
Responsible Banking. As from this, United Nations Environment shows a strong commitment to improving the environment,
Program Financial Initiative (UNEP FI), is a United Nations agency social and governance (ESG). BTN is committed to realizing
that encourages the development of a sustainable banking its ESG mission, Become the ESG Champion in the banking
industry with banks throughout the world. By becoming a industry.
12 February
BTN
Earns IDR3.5 Trillion
in Profit
Throughout 2023, Bank BTN managed to record a net profit of to IDR333.69 trillion or an increase of 11.9% compared to the
IDR3.5 trillion, growing 15% compared to 2022 which reached previous year which amounted to IDR298.28 trillion. This growth
IDR3.04 trillion. The increase in net profit was supported by the on the credit and financing side exceeds the achievement of
growth in credit and financing distribution as well as an increase credit disbursed by the national banking industry of 10.38% in
in the Company's fee based income in 2023. Throughout 2023, 2023.
BTN succeeded in disbursing credit and financing amounting
3 March
Bank BTN
New Logo Inauguration
Entering its 74th year, PT Bank Tabungan Negara (Persero) rebranding step is in line with the company's transformation
Tbk (BTN) rebrand itself by launching a new logo. The new to become The Best Mortgage Bank in South East Asia by 2025.
logo released is a symbol of the company's success and The launch of this new logo became a momentum for Bank
commitment in continuing its transformation into more BTN to accelerate the transformation.
modern and adaptive bank in facing digitalization. This
PT Bank Tabungan Negara (Persero) Tbk 37
Page 40
Performance
Highlights
22 March
Bank BTN
Prospera Inauguration
Bank BTN launched BTN Prospera as an exclusive and with improving the welfare of the Indonesian people. The
comprehensive service to support Emerging Affluent segment BTN Prospera service is expected to be a “stepping stone” for
customers in achieving their financial aspirations and meeting customers into the advanced segment, namely BTN Prioritas,
their lifestyle needs. Carrying the Brand Promise "Unlocking which is a category for customers who own funds with a value
Your Potential", this initiative is a form of Bank BTN's commitment of more than IDR500 million.
to meet customer needs to build wealth sustainably in line
17 April
Linkedin
Top Companies
Linkedin released its 2024 Top Companies list: the top 15 This proves that the Human Resources(HR) transformation
companies for career development. In this list, four BUMN implemented by Bank BTN for several years has positive results.
companies are in the top five positions, one of them is BTN.
25 April
BTN Credit
and Financing Distribution
Reaches IDR344.2 Trillion
The company’s strategy to focus on developing the high yield rising, due to the liquidity tightening that haunted the banking
and commercial segments has proven good results that industry since the end of last year. In this first quarter, Bank BTN
can be seen in the performance achievements in the first posted credit and financing growth of 14.8% to IDR344.2 trillion,
quarter of 2024. Credit disbursement and operating income compared to the same period in the previous year of IDR299.7
grew impressively when interest rates on funds were slowly trillion.
38 PT Bank Tabungan Negara (Persero) Tbk
Page 41
2024
Annual Report
21 May
BTN
Inaugurates New Sales Centers
in Three Big Cities
The Company has again opened the Bank BTN Mortgage Sales expected to increase the Non-Subsidized mortgage market
Center service which was formed in managing Non-Subsidized share, as well as increasing Bank BTN's income and improve
mortgage, especially for the Emerging Affluent Segment from services to the community, especially in home ownership.
chosen Developers and Housing Projects. This inauguration is
23 June
Bank BTN
Jakarta International Marathon
2024
Collaborating with DKI Jakarta Provincial Government, Bank runners which were divided into three categories, 1,000
BTN successfully held the 2024 BTN Jakarta International people for the Marathon (42K), 4,000 people for the Half
Marathon (JAKIM). This event was attended by at least 15,000 Marathon (21K), and around 10,300 people for the 10K run.
31 July
Bank BTN
Held Mass Credit
Agreements
Bank BTN held a mass mortgage contract for 4,824 housing distribution as well as part of efforts to support the
units which was carried out simultaneously in a number of strengthening of the public housing program, which aims to
regions in Indonesia within one day. The mass mortgage increase the KPR market share to 84% for this year.
agreement is Bank BTN's effort to speed up mortgage
PT Bank Tabungan Negara (Persero) Tbk 39
Page 42
Performance
Highlights
31 July
BTN Credit and
Financing Reached
IDR352 Trillion in Quarter 2
In the very challenging global economic conditions reaching around IDR352.06 trillion. This income grew 14.4% on
nowadays, Bank BTN was still able to achieve positive an annual basis (year-on-year/yoy) compared to the same
performance throughout the first semester of 2024. The period last year of IDR307.66 trillion.
company recorded credit and financing distribution
29 August
BTN
Santri Developer
Kebangsaan
After successfully holding the National BTN Santri Developer the Nadhatul Ulama Circle (NU Circle) is an education and
program in some Islamic boarding schools in Java, this year training program about property business development for
Bank BTN held the National BTN Santri Developer Program in Islamic boarding school alumni and also for participants from
Pekanbaru, Riau. The program that developed together with interfaith youth organizations.
30 September
Launching
of BTN Mobile
Innovation
Bank BTN strengthens its position as a leader in housing services. This feature makes the customers search for a house
finance by launching the latest innovations on the BTN Mobile and apply for a mortgage on one digital platform easier.
application. Now, BTN Mobile is the pioneer of mortgage Through the Property Search feature on BTN Mobile, customers
digitization in Indonesia by presenting the Property Search can browse various houses, complete with price, location and
feature which is directly integrated with various mortgage developer information that collaborates with Bank BTN.
40 PT Bank Tabungan Negara (Persero) Tbk
Page 43
2024
Annual Report
17 October
Bank BTN
built a Learning Center
di Bandung
Bank BTN started a project to build a Learning Center and construction of this Learning Center is the company’s
Executive Dormitory as huge as 3.1 hectares in the strategic strategic initiative which aims to utilize Bank BTN to be a
area of Dago, Bandung, West Java as an effort to improve productive asset.
the quality of the Company's human resources (HR). The
22 November
Platinum
Green Building
Certification Submission
The BTN Tower 2 building succeeded in achieving Green Council that its official members spread across 70 countries
Building certification or an environmentally friendly building all over the world. This certification is proof of the Company's
with the Platinum rank or the highest rating. This certification commitment to create environmentally friendly operations
is provided by the Green Building Council Indonesia (GBCI), and business environments.
which is an official member of the World Green Building
13 November
Bank BTN
Launched BTN Prospera
Debit Card
Bank BTN launched the BTN Prospera Debit Card to provide customers' quality of life. The BTN Debit Card is a strategic step
easier access to banking services that are integrated with for the Company in providing financial solutions that are fully
relevant modern trends and lifestyles in order to improve tailored to the needs of the BTN Prospera customers.
PT Bank Tabungan Negara (Persero) Tbk 41
Page 44
Performance
Highlights
29 November
Bank BTN Held Interactive Dialogue
to Accelerate Distribution
of 3 Million Houses Program
Bank BTN held an interactive dialogue to accelerate the In this dialogue, various solutions to the problem of providing
distribution of the 3 million house program together with the housing for the people were also discussed, starting from
Ministry of Housing and Settlement Areas, the Ministry of providing lands, permits, as well as proposals regarding
Home Affairs, and the Ministry of Agrarian Affairs and Spatial property tax relaxation to reduce the price of property
Planning/National Land Agency (ATR/BPN). In this Dialogue, production, so that it will be more affordable for the community.
various solutions were presented to push the realization of the This is also in line with the 3 million house program which is the
Three Million Houses program in Indonesia in front of hundreds Government's priority.
of developers.
42 PT Bank Tabungan Negara (Persero) Tbk
Page 45
2024
Annual Report
12 December
Distribution of
Mortgage Loans
by BTN and the Government
The Ministry of Housing and Settlement Areas (PKP) the distribution of Home Mortgage (KPR) for almost 30,000
appreciates the performance of the Ministry of State-Owned housing units through Bank BTN.
Enterprises (BUMN) which has succeeded in encouraging
PT Bank Tabungan Negara (Persero) Tbk 43
Page 46
REPORT OF BOARD OF DIRECTORS, BOARD OF COMMISSIONERS, AND BOARD OF SHARIA SUPERVISORY In general, BTN has met the expectations of stakeholders by achieving several targets set in 2024. 44 PT Bank Tabungan Negara (Persero) Tbk
Page 47
PT Bank Tabungan Negara (Persero) Tbk 45
Page 48
Board of Directors
Report
Respected Shareholders and other Stakeholders,
As the largest bank in Indonesia specializing in Loans. Consumer Savings Products include
housing finance, BTN aspires to be the primary Consumer Savings Accounts, Retail Deposits, and
partner in the financial empowerment of Personal Current Accounts. Meanwhile, Wealth
Indonesian families. In line with the increasingly Management Products include Bancassurance,
global era, the Company also envisions becoming Mutual Funds, Primary Market Retail Government
The Best Mortgage Bank in Southeast Asia by 2025. Bonds, Secondary Market Government Bonds, and
To achieve this vision, BTN has undertaken various Foreign Exchange.
internal improvements, including transformations
in the credit and funding sectors. Commercial Products are divided into Commercial
Credit Products, Commercial Savings Products,
On this occasion, allow us to present the Company’s and Corporate Credit Products. Commercial Credit
management and performance report for the 2024 Products include Working Capital Loans, Contractor
fiscal year, covering the Company’s performance Working Capital Loans, Property Working Capital
results, corporate outlook analysis, developments Loan, Land Ownership Loans, Linkage Loans,
in corporate governance implementation, the Collateralized Savings Loans, and Investment Loans.
performance evaluation of Committees under the Commercial Savings Products include Institutional
Board of Directors, and changes in the composition Term Deposits and Institutional Current Accounts.
of the Board of Directors. Meanwhile, Corporate Credit Products include
Working Capital Loans, Investment Loans, Loans to
Ministries/Government Institutions of the Republic
Analysis of The Company’s of Indonesia, Term Loan Facility, Corporate Line
Performance Facility, Treasury Line Facility (for Non-Financial
Institutions), Supply Chain Financing (SCF),
As a company engaged in the banking sector, Trust Receipt, Letter of Credit (L/C) or Domestic
the Company is consistently committed to being Documentary Credit (SKBDN), Bank Guarantee,
a bank that focuses on serving and supporting and Documentary Collection.
housing sector financing through various
conventional and sharia products and services. SHARIA PRODUCTS
In addition, the Company also offers financial
products and services needed by Indonesian Sharia Products consist of Sharia Financing
families. The Company’s various products and Products and Sharia Savings Products. Sharia
services are as follows: Financing Products include Consumer Financing
and Commercial Financing. Meanwhile, Sharia
CONVENTIONAL PRODUCTS Savings Products include Sharia Current Accounts,
Sharia Savings Accounts, and Sharia Deposits.
Conventional products consist of Consumer
Products and Commercial Products. Consumer CONVENTIONAL SERVICES
Products are divided into Consumer Credit
Products, Consumer Savings Products, and On the Conventional side, the Company provides
Wealth Management Products. Consumer Credit various services such as Electronic Data Capture
Products include Housing Loans and Non-Housing (EDC), BTN Cash Management, Virtual Account,
46 PT Bank Tabungan Negara (Persero) Tbk
Page 49
2024
Annual Report
Praise be to God Almighty,
for His blessings that have
enabled the Company
to deliver good results
amid ongoing economic
uncertainties. BTN’s
resilience in sustaining
its operations is, among
other things, due to the
Company’s continuous
transformation, allowing
it to adapt to changing
circumstances.
NIXON L.P. NAPITUPULU
President Director
PT Bank Tabungan Negara (Persero) Tbk 47
Page 50
Report of Board of Directors, Board of Commissioners,
and Board of Sharia Supervisor
Visa/GPN Debit Card and Online Debit, Internet Banking, Additionally, Risk Management was divided into the
BTN Property Portal, Mobile Banking, Electronic Channel Digital & Operations Risk Management Division (DORD)
ATM, BTN Priority Services, PLUS by BTN Priority, Branchless and the Enterprise & ESG Risk Management Division
Banking, BTN Smart Residence, Online Onboarding Open (ERMD). The DORD manages digital and operational
Account, SMS Notification, CRM, as well as other banking risks, while the ERMD oversees enterprise risk and
services and products. ESG management. The Company also introduced a
Personal Data Protection management function under
SHARIA SERVICES the Compliance Unit through the establishment of the
Data Privacy Department. Furthermore, the Company
On the Sharia side, the Company provides various established Regional Digital Banking Retail units within
services such as Safe Deposit Box BTN iB, BTN iB Bank Regional Offices as a strategy to strengthen digital
Guarantee, BTN iB Operational Development Program, product sales.
BTN iB Online Tuition Payment, Hajj Travel Fee Collection,
Mobile Banking, Visa/GPN Sharia Debit Card and Online Thus, BTN currently has 9 (nine) Directorates under
Debit, BTN iB Payroll, BTN Cash Management, Virtual the President Director, namely the Consumer
Account, Online Onboarding for Open Account, and Directorate, Distribution & Institutional Funding, SME
Bancassurance. Directorate & Retail Funding Directorate, Finance
Directorate, Information Technology Directorate, Assets
To optimize products and services for customers, the Management Directorate, Operations & Customer
Company has an extensive network spread across Experience Directorate, Risk Management Directorate,
various regions in Indonesia, including Sumatra, Java, and Human Capital, Compliance & Legal Directorate.
Kalimantan, Sulawesi, Bali, Nusa Tenggara, Maluku, Each Directorate is divided into several divisions that
and Papua. As of December 31, 2024, the Company’s support the execution of the respective Director’s duties.
Conventional Banking network consists of 8 (eight) The President Director is supported by the Internal Audit
Regional Offices, 82 (eighty two) Branch Offices, 536 Division and the Corporate Secretary. The President
(five hundred and thirty six) Sub-Branch Offices, and Director is also supported by SEVP positions, namely
4 Functional Offices. Meanwhile, for the Sharia Banking SEVP Digital Business and Wholesale Banking. The
network, the Company has 35 (thirty five) Sharia Branch Consumer Directorate is supported by the Subsidized
Offices and 75 (seventy five) Sharia Sub-Branch Offices. Mortgage Division, Mortgage & Secured Loan Division,
Personal Banking Division, and Sharia Banking Division.
In 2024, the Company adjusted BTN’s organizational The Distribution & Institutional Funding Directorate is
structure by refining the composition and nomenclature supported by the Sales & Distribution Division, Large
of the Board of Directors, establishing SEVP positions, Institutional Funding Division, and Mid-Size Institutional
and creating new divisions. These adjustments included Funding Division. The SME & Retail Funding Directorate
the development of the Commercial Banking Division is supported by the SME Banking Division, Retail Funding
(CMBD) structure for non-housing management to Division, and Wealth Management Division. The Finance
achieve targets, diversify portfolio guidelines, and Directorate is supported by the Treasury Division,
expand business development and partnerships Financial & Institution Capital Market Division, Corporate
through the Commercial Banking Center (CBC). In Strategy & Planning Division, Finance & Accounting
the Retail Funding Division (RFD), business process Division, and Investor Relations & Research Division. The
adjustments were made based on retail funding Information Technology Directorate is supported by
segmentation to enhance customer-centricity and the Data Management & Analytics Division, IT Strategic
clarify accountability. The Digital Banking unit was Planning & Development Division, IT Operations Division,
divided into the Digital Banking Sales Division (DBSD) and IT Security Division. The Assets Management
and the Digital Banking Product Development Division Directorate is supported by the Procurement & Fixed
(DBPD) to strengthen Digital Banking capabilities. Assets Management Division, Consumer Collection,
Institutional Funding was also separated into Large Recovery & Assets Sales 1 Division, Consumer Collection,
Institutional Funding (LIFD) and Mid-Size Institutional Recovery & Assets Sales 2 Division, and Commercial
Funding (MIFD), focusing on Liquidity Buffer Customers Asset Management Division. The Operations & Customer
and non-Liquidity Buffer Customers. The Sharia Division Experience Directorate is supported by the Customer
(SHAD) underwent structural development to reinforce Experience Division and Policy & Procedure Division.
both business and IT Sharia aspects. The Company The Risk Management Directorate is supported by
also separated the operational banking functions into the Retail Credit Risk Division, Wholesale Credit Risk
two divisions: the Central Operations Division (CEOD), Division, Enterprise & ESG Risk Management Division,
responsible for core operational functions, and the Digital & Operations Risk Management Division, and
Digital Operations Division (DGOD), which manages Transformation & Partnership Management Division.
business operations and transaction processing. The Human Capital, Compliance & Legal Directorate
48 PT Bank Tabungan Negara (Persero) Tbk
Page 51
2024
Annual Report
is supported by the Human Capital Strategy Division, Macro Economic Review
Human Capital Management Division, Human Capital
Business Partner Division, Learning Management In 2024, the global economy faced dynamic geopolitical
Division, Compliance & Governance Division, and Legal tensions. This situation affected the uncertainty of global
Division. financial markets, increased inflationary pressures, and
weakened global economic growth prospects. At the
In carrying out its operational activities, the Company beginning of 2024, global political tensions remained
has a total of 12,847 employees. As of December 31, high due to the ongoing conflict between Russia and
2024, 562 employees hold a postgraduate degree, Ukraine. After a brief period of de-escalation, global
10,786 employees hold an undergraduate degree, 1,217 geopolitical tensions surged again following Israel’s
employees hold a diploma, and 282 employees hold a attack on Iran, leading to heightened instability in Middle
high school degree. The Company consistently provides Eastern countries.
competency development for employees through
structured and systematic learning and development The uncertainty in global financial markets was also
programs to enhance the necessary knowledge, skills, marked by a downward trend in global interest rates,
and attitudes. The principle of equality is also applied which began in 2024 as inflation levels became more
to ensure that every employee receives the same controlled. The direction of the Federal Reserve System
opportunity for learning and development, from the (The Fed) rate cuts became clearer after it reduced its
initial placement phase to when they are projected to benchmark interest rate by 100 basis points to 4.25%-
assume higher positions. 4.50% by December. Besides The Fed, most central banks
worldwide, including the European Central Bank (ECB),
To support the Company’s business, BTN regularly the Bank of England (BoE), and the Bank of Canada
innovates in information technology. Several IT (BoC), also lowered their benchmark interest rates.
innovations implemented in 2024 include the Cloud-
based Human Capital Information System, Artificial The declining global economic growth outlook also
Intelligence, Super Apps balé by BTN, BTN Digital Store, impacted Indonesia’s economic recovery. According
and BTN Laku. In response to the rapidly evolving to the World Economic Outlook released by the IMF in
banking industry dynamics, the Company has also October 2024, Indonesia’s economic growth in 2024
taken proactive steps to strengthen IT as a key part was projected to reach 5.0%, slightly constrained by
of its corporate strategy. These enhancements are the slowdown in the global economy. However, in 2025,
continuously made through system modernization, the Indonesia’s economy is expected to improve and reach
adoption of the latest digital technologies, and improved a growth rate of 5.1%.
data security measures.
In the banking sector, liquidity in the banking industry
With the various resources available to the Company, remained at an adequate level in October 2024, with
the Board of Directors has effectively managed well-maintained liquidity ratios. The Liquidity Coverage
these resources. The Company has delivered strong Ratio/Non-Core Deposit (AL/NCD) stood at 113.64%, an
performance in 2024 despite the economy not yet fully increase from 112.66% in September 2024, significantly
recovering. The Board of Directors consistently considers exceeding the regulatory threshold of 50%. Meanwhile,
economic conditions at the global, national, and banking the Liquidity Coverage Ratio/Third-Party Funds (AL/DPK)
industry levels in developing business strategies to reached 25.58%, up from 25.40% in September 2024,
overcome challenges, particularly those related to remaining well above the regulatory threshold of 10%.
economic conditions affecting the Company’s business. Overall, the banking industry’s profitability, as reflected
Therefore, in presenting the Company’s performance in the Return on Assets (ROA), was recorded at 2.73%,
analysis, allow us to provide an economic review at the indicating that the sector remained resilient and stable.
global, national, and banking industry levels. In terms of capitalization, the Capital Adequacy Ratio
(CAR) of the banking industry increased to 27.07% in
October 2024 from 26.84% in September 2024.
PT Bank Tabungan Negara (Persero) Tbk 49
Page 52
Report of Board of Directors, Board of Commissioners,
and Board of Sharia Supervisor
Based on economic and industry analysis while considering existing challenges, The Company set a market target
for loans and financing at IDR367.13 trillion and IDR379.55 trillion for third-party funds. Based on this market target, the
Company aims to achieve interest income of IDR31.33 trillion in 2024.
To achieve this, the basic lending rates for 2024 have been determined as follows:
Table of Basic Loan Interest Rates
Basic Loan Interests based on Business Segment
Description Non-MSME Credit MSME Credit
Non KPR/
KPR/KPA
KPA
Corporate Retail Medium Small Micro
Basic Loan Interest Rate 8.76% 9.25% 10.17% 11.00% 14.03% 8.04% 11.80%
(SBDK) in 2024
Basic Loan Interest Rate 8.05% 8.30% n/a n/a n/a 7.30% 8.80%
(SBDK) in 2023
Basic Loan Interest Rate 8.00% 8.25% n/a n/a n/a 7.25% 8.75%
(SBDK) in 2022
Basic Loan Interest Rate 8.00% 8.25% n/a n/a n/a 7.25% 8.75%
(SBDK) in 2021
Basic Loan Interest Rate 9.90% 9.90% n/a n/a n/a 9.95% 11.25%
(SBDK) in 2020
In addition, BTN has also set competitive and attractive interest rates for savings, deposits, and current accounts,
presented as follows:
Table of Rupiah Savings Interest Rate
Retail interest Institutional
Types of products Balance strata
rate Interest Rates
Investment Savings Up to IDR1 million 0.00% 0.00%
>IDR1 million - IDR100 million 1.00% 1.00%
>IDR100 million - IDR1 billion 2.40% 2.25%
>IDR1 billion - IDR2 billion 3.15% 3.05%
>IDR2 billion - IDR5 billion 3.40% 3.20%
Table of Rupiah Savings Interest Rate
Types of products Balance strata Interest Rate
BTN Batara Savings < IDR1 million 0.00%
≥ IDR1 million - < IDR50 million 0.10%
>IDR50 million - < IDR500 million 0.10%
>IDR500 million - < IDR1 billion 0.50%
>IDR1 billion - < IDR2 billion 1.00%
>IDR2 billion 1.00%
50 PT Bank Tabungan Negara (Persero) Tbk
Page 53
2024
Annual Report
Types of products Balance strata Interest Rate
BTN Bisnis Savings <IDR1 million 0.00%
≥ IDR1 million - < IDR50 million 0.50%
≥ IDR50 million - < IDR500 million 1.00%
≥ IDR500 million - < IDR1 billion 1.25%
≥ IDR1 billion 1.75%
BTN Junior Savings ≤ IDR50 thousand 0.00%
> IDR50 thousand 0.50%
TabunganKu ≤ IDR500 thousand 0.00%
> IDR500 thousand - IDR1 million 0.10%
> IDR1 million 0.25%
SiMuda RumahKu Savings ≤ IDR1 million - IDR10 million 1.00%
> IDR10 million - IDR25 million 1.15%
> IDR25 million - IDR50 million 1.25%
> IDR50 million - IDR100 million 1.35%
> IDR100 million - IDR250 million 1.50%
> IDR250 million 2.00%
BTN Siap! Savings < IDR1 million - IDR10 million 1.00%
> IDR10 million - IDR25 million 1.15%
> IDR25 million - IDR50 million 1.25%
> IDR50 million - IDR100 million 1.35%
> IDR100 million - IDR250 million 1.50%
> IDR250 million 2.00%
BTN e'BataraPos Savings < IDR1 million 0.00%
≥ IDR1 million - IDR50 million 0.10%
> IDR50 million - IDR500 million 0.10%
> IDR500 million - IDR1 billion 0.50%
> IDR1 billion 1.00%
Tabanas Batara Post Office 0.00%
PT Bank Tabungan Negara (Persero) Tbk 51
Page 54
Report of Board of Directors, Board of Commissioners,
and Board of Sharia Supervisor
Table of Rupiah Current Account Interest Rate
Types of products Balance Strata Interest Rate
Rupiah Current Account ≤ IDR10 million 0.00%
> IDR10 million - IDR100 million 0.25%
> IDR100 million - IDR500 million 0.75%
> IDR500 million 1.00%
Table of Rupiah Deposit Interest Rates
Time Period (months)
Types of
Balance Strata
products
1 2 3 4 6 12 24
IDR Deposits < IDR1 million 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
IDR1 million - < IDR10 million 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00%
IDR10 million - < IDR100 million 2.25% 2.40% 2.65% 2.65% 2.90% 2.90% 2.90%
≥ IDR100 million - < IDR500 million 2.40% 2.40% 2.90% 2.90% 3.05% 3.05% 3.05%
≥ IDR500 million - ≤ IDR2 billion 2.40% 2.40% 2.90% 2.90% 3.05% 3.05% 3.05%
> IDR2 billion 2.40% 2.40% 2.90% 2.90% 3.05% 3.05% 3.05%
Table of Rupiah e-Deposit Interest Rate
Time Period (months)
Types of
Balance Strata
products
1 2 3 4 6 12 24
IDR < IDR100 million 2.60% 2.75% 3.00% 3.00% 3.25% 3.25% 3.25%
e-Deposits
≥ IDR100 million - < IDR500 million 2.65% 2.75% 3.25% 3.25% 3.40% 3.40% 3.40%
≥ IDR500 million - < IDR2 billion 4.25% 4.25% 4.40% 4.50% 4.65% 3.40% 3.40%
≥ IDR2 billion - < IDR5 billion 4.50% 4.50% 4.65% 4.80% 4.90% 3.40% 3.40%
≥ IDR5 billion - < IDR10 billion 4.60% 4.60% 4.80% 4.90% 5.00% 3.50% 3.50%
≥ IDR10 billion 4.70% 4.70% 5.00% 5.00% 5.00% 3.60% 3.60%
Table of Foreign Currency Savings Interest Rates
USD SGD AUD / CNY JPY
Types of
products Interest Balance Interest Balance Interest Balance Interest
Balance Strata
Rate Strata Rate Strata Rate Strata Rate
Tabungan BTN < USD 1.000 0.00% All tiering 0.10% All tiering 0.05% All tiering 0,00%
Felas
USD 1,000 - < USD 10,000 0.15%
USD 10,000 - < USD 100,000 0.35%
≥ USD 100,000 0.50%
52 PT Bank Tabungan Negara (Persero) Tbk
Page 55
2024
Annual Report
Table of Foreign Currency Savings Interest Rates
USD
Types of products
Balance Strata Interest Rate
BTN Felas USD Savings via Mobile Banking < USD 1,000 0.00%
USD 1,000 - < USD 10,000 0.15%
USD 10,000 - < USD 100,000 0.35%
≥ USD 100,000 0.50%
Table of Foreign Currency Deposit Interest Rates
Time Period (months)
Types of products Balance Strata
1 3 4 6 12 24
USD Deposits All strata 0.20%
SGD Deposits All strata 0.10%
AUD/CNY Deposits All strata 0.10%
JPY Deposits All strata 0.00%
Table of Foreign Currency e-Deposit Interest Rates
Time Period (months)
Types of
Balance Strata
products
1 3 6 12 24
USD e-Deposits < USD100,000 1.00% 1.00% 1.00% 1.00% 1.00%
USD100,000 - < USD500,000 2.50% 2.50% 1.50% 1.50% 1.50%
USD500,000 - < USD1,000,000 2.50% 2.50% 2.00% 2.00% 2.00%
≥ USD1,000,000 2.50% 2.50% 2.25% 2.25% 2.25%
Table of Foreign Currency Giro Interest Rates
Types of products Balance Strata Interest rate
Currency Current Account (USD) Up to USD100,000 0.00%
> USD100,000 0.10%
PT Bank Tabungan Negara (Persero) Tbk 53
Page 56
Report of Board of Directors, Board of Commissioners,
and Board of Sharia Supervisor
Strategy and Strategic Policies
The Board of Directors directly leads the formulation 5. In the Sharia banking sector, the market share of the
of the Company’s strategy through various meetings Islamic financial industry currently stands at 10.81%,
between the Board of Directors and key management. indicating significant potential, given that 84.35% of
The strategy is outlined in the Corporate Plan for 2021- Indonesia’s population (approximately 236 million
2025, whose implementation is continuously evaluated people) are Muslim. In line with the growth potential
by the Board of Directors to ensure the effectiveness of of the national Islamic banking sector, BTN’s Sharia
the established strategy through various internal report Business Unit (UUS) has also experienced business
evaluations and meetings with Division Heads. growth. This is reflected in its continuous positive
performance and its ability to maintain consistent
In facing various challenges and seizing opportunities, growth.
the Company strives to enhance its contribution to the 6. To strengthen capital and support healthy and
housing sector and support the transformation roadmap sustainable business growth, strong capital
of the Ministry of State-Owned Enterprises by setting the backing is required, considering the minimum
vision of Becoming the Best Mortgage Bank in Southeast capital requirements under Basel III. BTN’s capital
Asia by 2025, with the Company’s business aspirations strengthening strategy includes enhancing the
to be achieved by 2025. In 2024, the Company is bank’s profitability and issuing or extending
positioned within the strategic theme for 2024-2025, subordinated bonds/loans.
namely Disrupt and Scale Up Through Digital. For 2024, 7. In the area of human capital, as part of BTN’s
the following strategies have been formulated: mission to become “the home for Indonesia’s best
1. In the credit sector, business credit has been talents,” short- and medium-term human resource
developed with the initiatives Monetize housing development programs are aligned with the
ecosystem at-scale and Transition from mono-bank Corporate Plan 2025-2029.
lending to full banking offerings. 8. In the field of IT infrastructure, to support the
2. In the area of credit and financing quality, the short- corporate plan, business aspirations, and BTN’s
and medium-term strategic initiatives include vision of “Becoming the Best Mortgage Bank in
Strengthening risk underwriting and collections Southeast Asia by 2025,” BTN has formulated 6
processes to sustainably grow the portfolio, (six) themes in its IT strategic plan for 2021-2025. In
addressing the high restructured portfolio, and 2024, BTN adopted the main theme of Continuous
expediting late-stage recovery by setting up an Improvement, focusing on enhancing non-critical
asset management subsidiary. systems, process improvements, and increasing IT
3. In the funding sector, the short- and medium-term maturity.
strategic initiative is to build a sustainable funding 9. In the field of good corporate governance (GCG),
engine. BTN is strengthening governance standards
4. In other operating income, BTN’s business plan for continuous improvement. In the field of risk
for the next three years is focused on increasing management, to support long-term planning, BTN
Other Operating Income (POL), which is primarily needs to remain a bank with sustainable profitability
sourced from fee-based income, particularly from and continue strategic steps and initiatives related
new transaction- and service-based sources. to risk management. Then, in the field of compliance,
Additionally, given BTN’s business position, which to enhance operational resilience in supporting
focuses on the housing sector, there are business the Bank’s business growth and foster a Culture
opportunities that can be enhanced by maximizing of Compliance at every level of the organization
the potential of captive customers and the and business activities, BTN has developed the
property value chain. To achieve this, a focused GRC Roadmap BTN 2025-2029 related to the
strategy of product and service diversification and implementation of the Bank’s Compliance Function.
differentiation is required, which will be carried out 10. In the field of network development (delivery
through an inorganic growth strategy. From 2025- channel), the optimization of delivery channels
2029, capital participation activities will be focused to support business is carried out through the
on subsidiaries in venture capital companies, development of quantity and variety of channels,
investment management companies, insurance with a network expansion strategy focused on 4 (four)
companies, multifinance companies, and Islamic main initiatives: regional mapping strategy, branch
commercial banks. expansion, agent banking, and digital channel..
54 PT Bank Tabungan Negara (Persero) Tbk
Page 57
2024
Annual Report
Achievement of Performance Target IDR41.80 trillion in 2023. This increase was mainly driven
by a 39.95% rise in Sharia Giro Deposits, which grew by
Based on the implemented strategy, in 2024, the IDR5.66 trillion. Sharia Savings and Sharia Time Deposits
Company achieved strong performance as targeted. also grew by 15.70% and 5.27%, respectively.
The Company’s performance analysis is presented as
follows. In terms of financial performance, BTN’s profit for the
year 2024 declined by 14.10% compared to 2023. This
Operational and Financial Performance was due to BTN’s banking business strategy in 2024,
which focused on maintaining liquidity levels and
From an operational perspective, the Company’s projected adjustments to the BI 7-Day Reverse Repo
business segments are categorized into two main Rate (BI7DRRR) in 2025. As a result, revenues declined,
segments: Conventional and Sharia. The Conventional but this strategy is expected to lead to more prudent
segment consists of consumer products and commercial credit processes in the future. Despite the decline in
products. In consumer products, the total value in 2024 profit for the year, BTN’s total assets in 2024 increased.
reached IDR107.64 trillion, an increase from IDR106.90 Total assets reached IDR469.61 trillion, reflecting a 7.03%
trillion in 2023. This growth was driven by an increase increase from IDR438.75 trillion in 2023. Additionally,
in Consumer Savings Deposits and Consumer Time BTN recorded stronger equity in 2024. BTN’s total equity
Deposits in 2024. The total Consumer Savings Deposits reached IDR32.57 trillion, marking a 6.87% increase
in 2024 amounted to IDR67.43 trillion, reflecting a 4.64% from IDR30.47 trillion in 2023. This increase in equity
increase from IDR64.45 trillion in 2023. This increase was was primarily supported by retained earnings, which
primarily driven by an 11.26% growth in Time Deposits. amounted to IDR19.15 trillion in 2024, growing 13.70% from
IDR16.84 trillion in 2023.
For Commercial Products, the total value in 2024
reached IDR303.07 trillion, reflecting a 5.73% increase Comparison Between Achieved and
from IDR286.65 trillion in 2023. This growth was driven by Targeted Results
an 8.66% rise in Commercial Savings Products. The total
Commercial Savings Accounts in 2024 amounted to In general, BTN has met the expectations of
154,772 accounts, showing a 23.50% increase compared stakeholders. Various targets that have been set have
to 2023, which had 125,275 accounts. The total been realized in 2024. Total third-party funds in 2024
Commercial Loan Products in 2024 reached 21,557 units, amounted to IDR381.84 trillion, achieving 100.61% of the
marking a 72.30% increase from 12,511 units in 2023. The 2024 target. This achievement was supported by giro
highest growth in Commercial Product disbursement performance in 2024. Giro in 2024 amounted to IDR161.02
was driven by the increase in Commercial Savings, trillion, achieving 105.13% of the 2024 target, with giro
mainly due to the addition of Giro accounts, which grew performance contributed by the increase in giro within
by 33,151 accounts (23.04%). the wholesale, commercial, corporate, and institutional
segments. Equity achievement in 2024 was 100.41%,
For the Sharia segment, the total Sharia Financing with a realization of IDR32.62 trillion. Equity remained
Disbursement in 2024 reached IDR43.89 trillion, an 18.26% stable and exceeded the 2024 target, supported by
increase from IDR37.11 trillion in 2023. This growth was the strengthening of the business ecosystem. Housing
primarily due to an increase in Consumer Financing, credit achievement in 2024 amounted to IDR262.37
which rose by IDR6.38 trillion (18.36%) compared to trillion, approaching the target with a realization of
2023. The total Sharia Financing Disbursement in 2024 98.64% of the 2024 target. Although net profit has not yet
reached 312,713 financing units, reflecting a 12.58% reached the target, interest income has approached the
increase or 34,945 additional units, compared to 277,768 target with a realization of 94.41%. This was influenced by
units in 2023. The total Sharia Savings Deposits in 2024 the still high banking interest expenses, with the BI rate
amounted to IDR49.62 trillion, an 18.71% increase from remaining around 6.00%-6.25% throughout 2024.
PT Bank Tabungan Negara (Persero) Tbk 55
Page 58
Report of Board of Directors, Board of Commissioners,
and Board of Sharia Supervisor
From the financial ratio perspective, NPL in 2024 stood - Implementing AI-based Digital Mortgage (Pre-
at 3.15%. The NPL ratio remained under control, driven Approval KPR Ultimate) to simplify the credit
by business process improvement initiatives, such as approval process.
the implementation of the Commercial Banking Center
(CBC) and Regional Loan Processing Center (RLPC), 4. Integration with the Digital Ecosystem
ensuring a more prudent credit process, as well as - Strengthening API management & sandboxing
periodic asset sales. for integration with marketplaces, fintech, and
the property ecosystem
Obstacles Faced by The Company - Developing joint finance & channelling platforms
to expand banking services in the property and
Although showing good performance, the Company MSME sectors
also faces various challenges. These challenges - Implementing digital flagship stores by
include dependence on high-cost third-party funds. To expanding digital-based branches
overcome this challenge, the Company has a strategy
to reduce dependence on high-cost third-party funds 5. Enhancing Security & IT Governance
by increasing payroll account penetration. Another - Implementing “Security by Design” in all digital
challenge faced by the Company is that the use of services to reduce fraud risks and cyber threats
mobile banking by active customers is still not optimal. - Enhancing the Fraud Detection System (FDS) for
To overcome these challenges, the Company enhanced real-time monitoring of digital transactions
its digital channels through the following initiatives: - Utilizing AI & Machine Learning for cybersecurity
1. Strengthening Digital Banking Infrastructure and risk management.
- Enhancing BTN Mobile & Internet Banking with
richer features, including QRIS Crossborder, QRIS The Company has a strategy to increase its digital
Customer Presented Mode (CPM), and a digital channels by strengthening digital banking infrastructure,
payment ecosystem increasing digital user acquisition and activation,
- Implementing digital branches & self-service innovating digital products, integrating with digital
banking to reduce reliance on physical branches ecosystems, and improving security and IT Governance.
- Improving transaction banking capabilities In addition, there is a challenge in which the growth
through the digitalization of BTN Mobile, a cash of non-subsidized mortgages is lower compared to
management system, and API integration competitors. To overcome this challenge, the Company
- Developing BTN Properti as a digital mortgage has a strategy to increase the growth of non-subsidized
ecosystem platform, including property listings, mortgages to prevent further loss of market share.
mortgage applications, and end-to-end
mortgage management
2. Enhancing Digital User Acquisition & Activation Important Things Expected to
Adopting digital marketing to increase awareness Occur in The Future and Business
and acquire new users Prospects
- Enhancing digital-based cross-selling by
leveraging big data analytics The International Monetary Fund (IMF) projects global
- Expanding access for the emerging affluent economic growth of 3.3% in 2025. The economy in
segment and younger generations (ages 20-35) developed countries such as the United States is expected
through a more user-friendly digital platform to grow at a slower pace compared to 2024, while China’s
3. Digital Product Innovation economy in 2025 is also projected to slow down.
- Launching new digital products such as BTN
Paylater and Virtual Debit Card to enhance
customer transactions
- Digital Gold Savings and other digital investment
products.
56 PT Bank Tabungan Negara (Persero) Tbk
Page 59
2024
Annual Report
National economic growth remains positive in 2024 Corporate Governance
amid the global economic slowdown, driven by strong
household consumption, incoming investments, and The Company recognizes that the sustainability of
sustained export performance. Bank Indonesia predicts a business entity is not only measured by financial
that economic growth in 2025 will remain strong and performance and profit growth but also through
positive within the range of 4.8%-5.6%. internal corporate management, including the effective
implementation of good corporate governance (GCG).
The financial services sector, particularly banking, is Essentially, the Company applies GCG principles with
expected to maintain its performance and strengthen the belief that this ensures a comprehensive business
compared to 2024. Bank Indonesia estimates that in balance, aligning various interests—business and social,
2025, Third-Party Funds (DPK) will grow within the range individual and group, internal and external, short-term
of 8.0%-10.0%, while bank credit distribution will grow by and long-term, as well as shareholders’ and stakeholders’
11.0%-13.0%. For 2025, the housing sector is predicted to concerns—toward an equilibrium. The application of GCG
strengthen compared to previous years. principles is crucial for the Company to become more
resilient and competitive in an increasingly challenging
Given the various projections of global and national market. The Company continually strives to follow best
economic conditions, as well as the banking industry, GCG practices at the national, regional, and international
the Company has opportunities for growth. The levels, ensuring their relevance and alignment with
opportunities available to the Company include the corporate needs. To enhance sustainable governance
following: practices, the Company consistently adheres to the
1. The potential for mortgage (KPR) growth in line with four pillars of GCG: ETAK (Ethical Behavior, Transparency,
3 (three) million houses program. Accountability, and Sustainability).
2. The potential growth of the direct to customer (D2C)
(secondary market) segment, which offers higher The Company’s responsibility to conduct its business
yields. sustainably cannot be effectively realized without
3. Partnership opportunities in the multifinance and a foundation of ethical corporate behavior. Ethical
insurance sectors. conduct, based on moral values such as concern for the
4. Inorganic growth in the multifinance sector. interests of others, directs corporate practices towards
5. Increased digital interactions within the banking sustainability and ultimately responsible actions. The
system. Company is committed to ensuring GCG implementation
6. Growth in the Consumer and Small Medium at the highest standards, referring to best practices from
Enterprise (SME) segments in Indonesia. credible and trustworthy banking institutions. Public trust,
along with the confidence of shareholders and customers,
By leveraging its internal strengths, the Company is is a key determinant of the Company’s growth and
optimistic about having a promising future. To enhance business continuity. All business activities must comply
its contribution to the housing sector and support the with prevailing laws and regulations while upholding
Ministry of SOEs’ transformation roadmap, BTN has ethical norms. A strong ethical awareness enhances the
set its vision to “Become the Main Partner in Financial Company’s positive reputation and reinforces its position
Empowerment for Indonesian Families by 2025”, with as a Good Corporate Citizen. Therefore, the Company
aspirations to be achieved by 2029 as follows: consistently upholds integrity by implementing an ethical
1. Building a sustainable savings engine to accumulate and behavioral code that serves as the foundation
savings of IDR120 trillion. for professional and ethical conduct. These principles
2. Empowering Indonesian families in housing credit align with the Company’s vision, mission, values, and
distribution to help them realize their dream of applicable internal and external regulations. The
homeownership, with a distribution target of around Company has established a set of ethical and behavioral
IDR450 trillion. policies to guide all personnel in conducting business
3. Becoming a financial partner for consumers and activities. To ensure alignment with its corporate vision,
businesses by providing a complete range of daily mission, and cultural values, the Company enforces the
banking solutions. Code of Conduct on the BTNBest Platform. This Code
4. Developing a high-quality portfolio with operational is disseminated through PPDigital, where employees
efficiency.
5. Expanding service coverage through three subsidiary
companies.
PT Bank Tabungan Negara (Persero) Tbk 57
Page 60
Report of Board of Directors, Board of Commissioners,
and Board of Sharia Supervisor
can access it and participate in quizzes to assess their To ensure the implementation of sustainability, the
understanding. Additionally, the commitment to the Company complies with laws and regulations and is
Code of Conduct is reinforced through an Integrity Pact, committed to fulfilling its responsibilities towards society
which must be signed by all Board of Directors, Board and the environment to contribute to sustainable
of Commissioners, and employees. Furthermore, the development. Economic development is inseparable
Code of Conduct is accessible to all stakeholders via the from the social and environmental consequences it
Company’s official website. generates. Achieving a national economy that prioritizes
harmony between economic, social, and environmental
Regarding transparency, to maintain objectivity in aspects requires proper and adequate resource
business operations, the Company provides material management. Therefore, the Company recognizes
and relevant information in an easily accessible its strategic function and role in ensuring that the
and understandable manner for stakeholders. The investment flows it manages contribute to the future
Company has provided contact details on its website and have a broad impact on economic development,
and in its Annual Report, which stakeholders can use to environmental conditions, and social aspects.
submit complaints, suggestions, or reports of potential
violations of their rights. Beyond the Annual Report, The Company remains committed to promoting
the Company ensures transparent access to both sustainable finance by integrating environmental,
financial and non-financial information through various social, and governance (ESG) aspects into its operations.
media, including its bilingual website, mass media Its ESG journey involves planning how the Company
(press releases), internal magazines/bulletins, analyst manages environmental impacts, addresses social
meetings, the official IDX website, product posters and issues, and upholds ethical governance standards in
banners, corporate actions, and public presentation all banking activities. The Company has developed
materials. frameworks, strategies, and roadmaps to advance
sustainable finance and enhance its ESG performance.
Regarding accountability, the Company has The Company emphasizes its focus on addressing ESG-
communicated target achievements and the Board related issues in the mortgage banking sector, aiming
of Directors’ performance. To enhance the quality to achieve long-term sustainability and responsible
of duties and responsibilities execution, the Board of banking practices.
Commissioners and Board of Directors are committed
to establishing policies and conducting performance One of the pillars of the Company’s ESG framework
evaluations. The Board of Commissioners applies a self- is managing climate change risks and their impact
assessment policy to evaluate its performance, while on ecosystems (Climate Change and Ecosystems).
the Board of Directors’ performance is assessed through Therefore, the Company has designed various programs
Key Performance Indicators (KPI) based on external to mitigate climate change risks. This initiative also
auditors’ financial statement reviews. Both collective represents the Company’s contribution to supporting
and individual KPIs for the Board of Directors serve as the government’s commitment to achieving net zero
one of the effective measuring tools in monitoring the emissions (NZE) by 2060 and aligns with Sustainable
performance and implementation of the duties of the Development Goal (SDG) 13, which focuses on climate
Company’s Management carried out by the Board of action. Within the Company’s ESG Framework, GHG
Directors. emission management is included under the Climate
Change and Ecosystems pillar. The Company has
set a minimum emission reduction target of 30% in its
operational activities over the next five years. Several
initiatives have been introduced to meet this target,
including the adoption of solar panels as an energy
source, the use of electric vehicles for at least 20% (or a
minimum of 50 units) of the total operational fleet, and
other sustainability programs.
58 PT Bank Tabungan Negara (Persero) Tbk
Page 61
2024
Annual Report
To evaluate the implementation of Good Corporate ISO 27001:2022 certification. achieving Cyber Security
Governance (GCG), the Company conducts periodic Maturity (CSM) Level 5 (Optimal Implementation),
and consistent GCG Assessments every year, comprising and implementing the IT Security Index.
both self-assessment and external assessments. The 6. To enhance complaint handling and stakeholder
self-assessment of governance practices is conducted trust, BTN has collaborated with Indonesia’s
regularly at the end of June and December each year. Corruption Eradication Commission (KPK) for
For 2024, the implementation standards for Governance, Whistleblowing System (WBS) management as part
in addition to referring to OJK Regulation No. 17 of 2023 of its anti-corruption efforts.
concerning the Implementation of Governance for 7. BTN has established an ESG Committee and ESG
Commercial Banks, also follow OJK Regulation Number Department responsible for governance and
2 of 2024 concerning the Implementation of Sharia sustainability initiatives.
Governance for Commercial Banks and Sharia Business
Units and Regulation of the Minister of State-Owned
Enterprises Number PER-2/MBU/03/2023 concerning Assessment of The Committee
Guidelines for Governance and Significant Corporate Under The Board of Directors
Activities for State-Owned Enterprises.
The Company has established and structured several
The results of the self-assessment conducted in June committees under the Board of Directors to support
2024 and December 2024 were at rating 2 (two), which the execution of its duties. These committees play a
reflects that the Company’s Management has generally key role in facilitating monitoring, improving problem-
implemented Good Corporate Governance (GCG) well. solving effectiveness, and developing strategic
Based on this assessment, the Company has undertaken aspects in accordance with applicable regulations. The
improvement efforts by addressing several weaknesses committees include:
identified in the recommendations. 1. Risk Management Committee
2. Asset and Liability Management Committee (ALCO)
In addition to the self-assessment, in 2024, the Company 3. Credit Policy Committee
also conducted a third-party assessment to obtain a 4. Credit Committee
second opinion on the quality of GCG implementation, 5. Human Capital Committee
with the aim of continuously improving GCG practices. 6. Information Technology Steering Committee
Some of the assessments conducted include the 7. Transformation Steering Committee
Corporate Governance Perception Index (CGPI) survey 8. Business Committee
organized by the Indonesian Institute for Corporate 9. Environmental, Social, and Governance (ESG)
Governance (IICG) and the GCG assessment based on Committee
the ASEAN Corporate Governance Scorecard, conducted
by OJK and the Indonesian Institute for Corporate To measure the effectiveness of the performance of
Directorship (IICD). committees under the Board of Directors in assisting
the Board of Directors in managing the company,
The Company’s CGPI score in 2024, for the 2023 fiscal an evaluation of committee under the Board of
year, was 91.52, earning the “Most Trusted” predicate. Directors is conducted. The procedure for evaluating
The Company has taken follow-up actions based on the the performance of committees under the Board of
recommendations from the assessment as follows: Directors is carried out periodically by the Board of
1. BTN has implemented several programs to Directors, with assessment criteria based on meeting
strengthen and enhance the bank's risk culture to implementation and attendance throughout the fiscal
optimize the implementation of risk culture. year. Throughout 2024, the Board of Directors assessed
2. BTN has developed a roadmap for the Anti-Fraud that the committees under the Board of Directors had
Strategy (SAF) to mitigate and improve work performed their duties and responsibilities well.
processes to prevent fraud recurrence, non-fraud
cases, sanctions/fines, and other violations. In addition to being assisted by the Committees
3. BTN has established a Special Policy No.KK.9-Z under the Board of Directors, the Board of Directors
concerning Customer and Public Protection. is also supported by supporting units such as the
4. To ensure IT security, BTN has focused on three key Corporate Secretary, Internal Audit Unit (SKAI) and Risk
pillars: People, Process, and Technology. Management Unit (SKMR). The performance evaluation
5. BTN has conducted evaluations and assessments for the Corporate Secretary, SKAI, and SKMR is assessed
on security resilience controls, including: obtaining based on Key Performance Indicators (KPI), including
PT Bank Tabungan Negara (Persero) Tbk 59
Page 62
Report of Board of Directors, Board of Commissioners,
and Board of Sharia Supervisor
Main Targets, Collaboration, Initiatives, and others. The 2. Change the nomenclature of the Company’s
KPI achievement for 2024 for the Corporate Secretary, Board of Directors positions, namely Director of
SKAI, and SKMR exceeded 100%. The Corporate Secretary, Distribution and Funding to Director of Distribution
SKAI, dan SKMR have carried out their duties effectively. and Institutional Funding, Director of IT and Digital
to Director of Information Technology, Director of
Institutional Banking to Director of Operations and
Changes in The Composition of Customer Experience, and adding Director of SME
Board of Directors Members and Retail Funding.
3. Reassign Andi Nirwoto, who previously served as
Throughout 2024, there have been changes in the Director of IT and Digital, to Director of Information
composition of the Board of Directors. These changes Technology, and Hakim Putratama, who previously
were made based on the needs of the Company. The served as Director of Institutional Banking, to Director
changes in the composition of the Board of Directors are of Operations and Customer Experience.
as follows: 4. Appoint Elisabeth Novie Riswanti as Director of
Assets Management, Hirwandi Gafar as Director of
COMPOSITION OF THE BOARD OF DIRECTORS BEFORE THE Consumer, Jasmin as Director of Distribution and
2024 ANNUAL GMS Institutional Funding, Setiyo Wibowo as Director of
Before the 2024 Annual GMS, the Board of Directors Risk Management, and Muhammad Iqbal as Director
consisted of 10 (ten) members, comprising 1 (one) of SME and Retail Funding.
President Director, 1 (one) Vice President Director, and 8
(eight) Directors, as follows: Thus, the composition of the Board of Directors after
the 2024 Annual GMS consists of 11 (eleven) members,
comprising 1 (one) President Director, 1 (one) Vice
Nixon L.P. Napitupulu : President Director
President Director, and 9 (nine) Directors as follows:
Oni Febriarto : Vice President Director
Rahardjo
Nixon L. P Napitupulu : President Director
Andi Nirwoto : Director of IT and Digital
Oni Febriarto : Vice President Director
Elisabeth Novie : Director of Assets Rahardjo
Riswanti Management
Andi Nirwoto : Director of Information
Jasmin : Director of Distribution and Technology
Funding
Elisabeth Novie : Director of Assets
Setiyo Wibowo : Director of Risk Riswanti Management
Management
Jasmin : Director of Distribution and
Hirwandi Gafar : Director of Consumer Institutional Funding
Nofry Rony Poetra : Director of Finance Setiyo Wibowo : Director of Risk Management
Eko Waluyo : Director of Human Capital, Hirwandi Gafar : Director of Consumer
Compliance, and Legal
Nofry Rony Poetra : Director of Finance
Hakim Putratama : Director of Institutional
Banking Eko Waluyo : Director of Human Capital,
Compliance, and Legal
Hakim Putratama : Director of Operations and
BOARD OF DIRECTORS COMPOSITION AFTER THE 2024 Customer Experience
ANNUAL GMS
Muhammad Iqbal : Director of SME and Retail
On March 6, 2024, the Annual GMS decided to:
Funding
1. Honorably dismiss Elisabeth Novie Riswanti as
Director of Assets Management, Hirwandi Gafar
as Director of Consumer, Jasmin as Director of
Distribution and Funding, and Setiyo Wibowo as
Director of Risk Management.
60 PT Bank Tabungan Negara (Persero) Tbk
Page 63
2024
Annual Report
Closing
The Board of Directors expresses the highest appreciation for the trust, commitment, and cooperation of all stakeholders,
especially to the management team and all employees who have worked hard and successfully achieved strong
performance in 2024. The Board of Directors also extends its deepest appreciation for the guidance provided by the
Board of Commissioners, which has significantly contributed to the Company’s achievements. Additionally, the Board
of Directors expresses its highest gratitude to the shareholders, customers, and business partners of the Company.
The Company will continuously strive to improve service quality to meet stakeholders’ expectations. The Company’s
success in delivering solid performance thus far is inseparable from the support and trust of all stakeholders. Therefore,
the Board of Directors sincerely thanks all stakeholders for their continued support and confidence.
Moving forward, BTN aims to be closer to its customers and stakeholders and is determined to become the leading
bank within Indonesia’s housing ecosystem. In essence, BTN seeks to be the primary partner in empowering Indonesian
families financially. With increasingly professional human resources and advancing technology (particularly
digitalization), BTN is optimistic about becoming a reliable financial partner for Indonesian families, especially
in financial-related matters. Along with BTN’s recent logo change, the bank has embarked on a transformation to
become a one-stop financial solution for the housing ecosystem, going beyond mortgages.
.
Jakarta, February, 28 2025
On behalf of the Board of Directors
Nixon L.P. Napitupulu
President Director
PT Bank Tabungan Negara (Persero) Tbk 61
Page 64
Report of Board of Directors, Board of Commissioners,
and Board of Sharia Supervisor
BOARD OF DIRECTORS
Standing from Left to Right Sitting from Left to Right
Muhammad Iqbal Setiyo Wibowo
Director of SME & Retail Funding Director of Risk Management
Hakim Putratama Elisabeth Novie Riswanti
Director of Operations & Customer Experience Director of Assets Management
Andi Nirwoto Nixon L. P. Napitupulu
Director of Information Technology President director
62 PT Bank Tabungan Negara (Persero) Tbk
Page 65
2024
Annual Report
Standing from Left to Right Sitting from Left to Right
Hirwandi Gafar Oni Febriarto Rahardjo
Director of Consumer Deputy President Director
Nofry Rony Poetra Jasmin
Director of Finance Director of Distribution and Institutional Funding
Eko Waluyo
Director of Human Capital, Compliance & Legal
PT Bank Tabungan Negara (Persero) Tbk 63
Page 66
Report of Board of Directors, Board of Commissioners,
and Board of Sharia Supervisor
Report of The Board
of Commissioners
Dear Shareholders and Stakeholders,
Herewith, we present the Board of Commissioners’ inputs and oversight, including matters related to
report on supervision and advisory activities the implementation of the Corporate Plan Initiative,
regarding the Company’s management for the performance reviews, alignment of Vision and Mission
2024 fiscal year. This report includes an assessment in the Long-Term Corporate Plan (RJPP) 2025–2029
of the Board of Directors’ performance throughout among others.
2024, insights on the business prospects outlined by
the Board of Directors, the implementation of good
corporate governance (GCG), an evaluation of the Supervision of Strategies’ Formulation
Committees under the Board of Commissioners, And Implementation
and changes in the composition of the Board of
Commissioners. In carrying out its supervisory and advisory functions,
the Board of Commissioners actively participates in
the Company’s strategy formulation and oversees
Board of Directors Performance the implementation of the Company’s strategies. The
Assessment supervision of the Company’s strategy formulation
is conducted by overseeing the preparation of the
The Board of Commissioners consistently carries 2021–2025 Corporate Plan, approving the Bank’s
out its supervisory and advisory functions to the Business Plan, and approving the formulation of the
Board of Directors. Before presenting its views on Company’s Long-Term Plan, as well as the Company’s
the Board of Directors’ performance achievements, Work Plan and Budget, including any amendments.
the Board of Commissioners will first outline the The supervision of strategy implementation is carried
frequency and methods of providing advice to out through meetings with the Board of Directors.
the Board of Directors, as well as the Board of Additionally, the Board of Commissioners oversees the
Commissioners’ supervision of strategy formulation Company’s management to ensure that its directives
and implementation. are effectively communicated to all employees.
Frequency and Methods of The Board of Commissioners has performed its
Providing Advice to The Board of supervisory duties, provided guidance, given advice,
Directors monitored, and evaluated the implementation of the
Company’s strategic policies, including:
Advice from the Board of Commissioners to the 1. Regular monitoring of the implementation of the
Board of Directors is provided both formally and Company’s strategic initiatives.
informally. Formal advice is given through Joint 2. Regular monitoring of risk management
Meetings with the Board of Directors, Internal implementation, including risk profile, bank
Meetings of the Board of Commissioners held weekly, soundness level, Capital Adequacy Ratio (CAR),
meetings with the Company’s management, and risk appetite, risk tolerance, and recovery plan.
meetings with various committees. Meanwhile, 3. Periodic review of the Company’s performance on
informal advice is provided through working visits a bank-wide basis and for the Sharia Business Unit
to the Company’s operational areas. Throughout (UUS).
2024, the Board of Commissioners held eight Joint 4. Monitoring the development progress of the
Meetings with the Board of Directors initiated by Sharia Business Unit (UUS) projects.
the Board of Commissioners. In these meetings, the 5. Oversight by the Board of Commissioners on the
Board of Commissioners provided several advisory Bank’s performance and implementation of the
Business Plan.
64 PT Bank Tabungan Negara (Persero) Tbk
Page 67
2024
Annual Report
Praise be to God Almighty,
for His blessings and
grace have enabled the
management’s efforts
to realize BTN’s vision
of becoming The Best
Mortgage Bank in Southeast
Asia by 2025, yielding
encouraging results. This
is evident from BTN’s
achievements in 2024,
which continued to grow
and transform despite an
economy that has not yet
fully recovered.
CHANDRA M. HAMZAH
President Commissioner/ Independent
PT Bank Tabungan Negara (Persero) Tbk 65
Page 68
Report of Board of Directors, Board of Commissioners,
and Board of Sharia Supervisor
Views on The Performance In the banking industry, the Financial Services Authority
of The Board of Directors (OJK) recorded that the financial services sector,
particularly banking, remained solid in 2024, with strong
In assessing the performance of the Board of Directors, capital and liquidity indicators and well-managed
the Board of Commissioners considers several aspects credit risk. Banking intermediation function showed an
as the basis for its evaluation. These aspects include increasing trend in October 2024, with credit growing
economic conditions, performance achievements— by 10.92% year-on-year (yoy). This growth was mainly
namely operational performance, financial performance, driven by investment loans, which grew by 13.63% yoy.
and the Company’s soundness level. The assessment of On a monthly basis, the total nominal credit of the
the Board of Directors’ performance can be summarized banking sector increased by IDR78.00 trillion to IDR7,66
as follows. trillion. Meanwhile, Third-Party Funds (DPK) in October
2024 grew by 6.74% yoy to IDR8,75 trillion, mainly driven
The dynamics of global geopolitical tensions have led by an increase in savings, which rose by 7.43% yoy.
to uncertainty in financial markets. In 2024, the USD Credit risk continued to decline, with the banking sector’s
continued to strengthen, thus causing a weakening of Non-Performing Loan (NPL) ratio recorded at 2.20%.
the exchange rate of currencies in developing countries, Additionally, Loan at Risk (LaR) also showed a declining
including Indonesia. By the end of 2024, the Rupiah trend, reaching 9.94%, close to the pre-pandemic level
weakened to around IDR16,000/USD in line with the of 9.93% recorded in December 2019.
strengthening of the USD. Additionally, the yield on United
States Treasury (UST) bonds continued to rise, leading Amid these economic conditions, the Board of
to a weakening of foreign portfolio flows into developing Commissioners views that the Board of Directors has
countries. Furthermore, Donald Trump’s victory in the been able to face challenges and seize opportunities,
U.S. presidential election in November 2024 is expected achieving strong performance in 2024. This is reflected
to bring significant changes to global geopolitical and in the operational and financial achievements recorded
economic conditions. Some of the policies Trump is likely throughout the year. From the operational side, the value
to implement in his administration include imposing of Consumer Credit product distribution in 2024 was IDR
high tariffs on imported goods, tax cuts, and tightening 107.64 trillion, an increase compared to 2023 which was
restrictions on illegal immigration. These measures are IDR 106.90 trillion. The total position of Retail/Consumer
expected to impact global economic developments, Third Party Funds (TPF) in 2024 amounted to IDR76.15
such as increasing inflation rates, slowing economic trillion, up 6.00% compared to 2023 which was IDR71.84
growth, and a more gradual reduction in benchmark trillion. The value of new realization disbursement for
interest rates compared to previous expectations. Commercial/Corporate Credit and Financing products
in 2024 amounted to IDR40.84 trillion, down 9.45%
From the national economic perspective, Indonesia’s compared to 2023 which was IDR45.10 trillion. The total
economic growth in the third quarter of 2024 continued position of Institutional/Commercial Third Party Funds
to record positive results, although slightly below 5%. (TPF) in 2024 amounted to IDR305.52 trillion, up 9.86%
This indicates that Indonesia’s economy remains strong compared to 2023 which was IDR278.10 trillion
despite the global economic slowdown. Sectorally,
the highest growth was recorded in the other services From the Sharia perspective, the total value of Sharia
sector, followed by transportation and warehousing, as Financing disbursed in 2024 reached IDR43.89 trillion,
well as accommodation and food services. Meanwhile, marking an 18.26% increase compared to IDR37.11
in terms of expenditure, the highest growth was seen in trillion in 2023. The total number of Sharia Financing
the consumption component of Non-Profit Institutions units disbursed by 2024 was 312,713, reflecting a 12.58%
Serving Households (LNPRT), followed by exports and increase or an additional 34,945 units compared to
household consumption. On the monetary side, Bank 277,768 units in 2023. The total value of Sharia Savings
Indonesia (BI) maintained its benchmark interest rate in 2024 stood at IDR49.62 trillion, an 18.71% increase
at 6.00% in November 2024. The focus of monetary compared to IDR41.80 trillion in 2023.
policy was directed at strengthening the stability of
the Rupiah in response to the increasing uncertainty in From a financial perspective, although net profit for
global geopolitics and economic conditions, particularly the year experienced a slight decline, the total assets
influenced by political developments in the US. in 2024 reached IDR469.61 trillion, reflecting a 7.03%
increase from IDR438.75 trillion in 2023. Additionally, the
Company’s equity in 2024 also saw an increase, with
BTN’s equity reaching IDR32.57 trillion, up 6.87% from
IDR30.47 trillion in 2023.
66 PT Bank Tabungan Negara (Persero) Tbk
Page 69
2024
Annual Report
In addition to operational and financial performance, the geopolitical dynamics. The BI benchmark interest rate
bank’s soundness level is also one of the considerations was maintained at 6.00% at the end of 2024, with a
of the Board of Commissioners in evaluating the projected slower decline in 2025.
performance of the Board of Directors. The Company’s
soundness level reflects the results of the Company’s The financial services sector, particularly banking, is
condition assessment, conducted by evaluating the expected to maintain strong performance, improving
company’s risks and performance, as indicated by compared to 2024. Bank Indonesia projects that in
the final rating based on Financial Services Authority 2025, Third-Party Funds (DPK) will grow in the range of
Regulation No. 04/POJK.03/2016 dated January 26, 2017, 8.0%-10.0%, while bank credit distribution is expected to
concerning the Assessment of Commercial Bank Health increase by 11.0%-13.0%.
Levels and OJK Circular Letter No. 14/SEOJK.03/2017
dated March 17, 2017, concerning the Assessment of In the housing sector, growth is projected to exceed 2.00%
Commercial Bank Health Levels Using a Risk-Based in 2025, helping to reduce the housing backlog. Several
Bank Rating Approach. This assessment covers four factors are driving this positive outlook, including:
factors: Risk Profile, Governance, Earnings, and Capital. 1. The 3 (three) million houses program is one of
As of December 2024, the bank’s soundness rating the priority work programs of President Prabowo
(Self-Assessment) stands at composite rating 2 (two)/ Subianto’s government.
PK2, indicating that the bank is generally in a healthy 2. The establishment of a dedicated Ministry for Public
condition and is considered capable of withstanding Housing, the Ministry of Housing and Settlement
significant negative impacts from changes in business Areas (PKP).
conditions and other external factors. 3. An increased FLPP (Housing Financing Liquidity
Facility) quota of 220,000 units in 2025.
Furthermore, the assessment of the bank’s soundness 4. The extension of the Government-Borne VAT (PPN
level through rating evaluations is also regulated under DTP) incentive—100% until June 2025 and 50% until
the Regulation of the Minister of State-Owned Enterprises December 2025.
of the Republic of Indonesia No. PER-2/MBU/03/2023 5. The continuation of the Loan to Value (LTV) policy for
concerning Governance Guidelines and Significant property until the end of 2025.
Corporate Activities for State-Owned Enterprises. The 6. The government’s removal of several housing-
soundness rating of the State-Owned Enterprise, as related taxes, including the Land and Building Rights
assessed by the National Rating Agency as of December Acquisition Fee (BPHTB) and the Building Approval
31, 2024, was AAA, placing it in the “Highly Sound” (PBG) requirement
classification.
To achieve the target of three million houses,
collaboration among all stakeholders is essential,
Views on Business Prospects including the Central and Regional Governments,
Prepared by The Board of Directors Banking Developers Association and the Community,
to address existing challenges such as land availability,
The global economy is projected to grow by 3.2% in 2025, permits, bureaucracy, and purchasing power.
according to the International Monetary Fund (IMF).
Advanced economies, such as the United States, are By considering the economic conditions and the
expected to experience lower growth compared to 2024, Government’s policies, the Board of Commissioners
while China’s economy is also projected to slow down believes that the business prospects formulated by
in 2025. the Board of Directors are appropriate. The Board of
Commissioners is confident that the Company will
On the national front, Bank Indonesia predicts that be able to seize existing opportunities, including the
emerging economies like Indonesia will continue to potential growth of mortgage loans (KPR) in line with 3
grow beyond the achievements of 2024. Meanwhile, (three) million houses program and the growth potential
inflation in 2025 is expected to remain within Bank of the Direct-2-Consumer or D2C (secondary market)
Indonesia’s target range of 2.5%±1% year-on-year. To segment, which offers higher yields. The Company also
maintain this level of inflation, the government and Bank has opportunities for partnerships in the multifinance
Indonesia will implement a mix of fiscal, monetary, and and insurance sectors, as well as inorganic growth in the
real-sector policies. Additionally, the average exchange multifinance sector. The increasing digital interaction
rate of the Indonesian Rupiah against the US dollar within the banking system also presents an opportunity
is expected to remain stable in 2025, despite ongoing for the Company. Additionally, there are growth
uncertainties in the global financial markets, such opportunities in the Consumer and SME segments in
as the Federal Reserve’s monetary policy and global Indonesia.
PT Bank Tabungan Negara (Persero) Tbk 67
Page 70
Report of Board of Directors, Board of Commissioners,
and Board of Sharia Supervisor
Views on The Implementation of Corporate Governance
The Company consistently strengthens its commitment 2. Use of the Standardized Model for Market Risk as in
to implementing and upholding GCG (Good Corporate line with OJK Circular Letter No. 38/SEOJK.03/2016
Governance) principles in its daily business activities, dated September 8, 2016, on Guidelines for Using the
complying with all laws and regulations, and remaining Standardized Approach in Calculating the Minimum
open to continuous improvements in accordance Capital Requirement for Commercial Banks while
with best practices. This ensures alignment with the considering Market Risk. Currently, The Company
Company’s goals, vision, and mission while creating has implemented OJK Circular Letter No. 23/
added value for shareholders and other stakeholders. SEOJK.03/2022, dated December 7, 2022, regarding
the Calculation of Risk-Weighted Assets for Market
The implementation of good corporate governance Risk for Commercial Banks, which will take effect
is a crucial indicator for shareholders in assessing on January 1, 2024. In preparation, the Bank has
the Company’s performance and ensuring that it is conducted trial calculations and reported Market
managed effectively while protecting the interests of all RWA positions to OJK for June 2023, September 2023,
shareholders. In this regard, the Company is committed and December 2023.
to continuing to improve the implementation of good 3. Calculation of minimum capital requirements using
corporate governance in order to understand the the Standardized Approach for Operational Risk ATMR
expectations of each shareholder. calculation, referring to SEOJK No. 06/SEOJK.03/2020
dated April 29, 2020, and currently, the Company
The Board of Commissioners consistently carries out records loss data related to operational risk in
its supervisory function to ensure that the Company’s accordance with regulatory provisions.
management, conducted by the Board of Directors,
complies with laws and regulations. Additionally, it In the risk management system, the Company
provides necessary advice and/or opinions on strategic implements a risk management process supported by
actions and/or activities to achieve the Company’s four (4) pillars of risk management implementation,
objectives. The implementation of GCG within the namely:
Company has been well-executed, as reflected in the 1. Active Supervision by the Board of Commissioners
following components. and Directors.
To ensure effective risk management
Risk Management implementation, active supervision is carried out by
the Board of Directors, the Board of Commissioners,
In implementing risk management and as a follow-up to and the Sharia Supervisory Board. This supervision is
the application of Basel II, particularly Pillar 1, Company assisted by the Risk Management Work Unit.
has implemented the following measures: 2. Adequacy of risk management policies and
1. Credit Risk Measurement by mapping credit risk procedures, as well as risk limit implementation.
exposure according to portfolio categories in the The implementation of sound risk management
calculation of Risk-Weighted Assets (RWA) for Credit requires adequate risk management policies
Risk using the Standardized Approach, referring and procedures. In addition to the adequacy of
to OJK Circular Letter No. 11/SEOJK.03/2018, which risk management policies and procedures, the
amends SEOJK No. 42/SEOJK.03/2016 regarding Company has also conducted a series of processes
Guidelines for Calculating Risk-Weighted Assets in setting risk limits, formulated and detailed by
for Credit Risk Using the Standardized Approach. aligning with/or integrating the Corporate Work Plan
Currently, the Company has applied the calculation and Budget up to the Recovery Plan in accordance
of RWA for Credit Risk in accordance with SEOJK with regulations.
No. 24/SEOJK.03/2021 dated October 7, 2021, 3. Adequacy of Risk Identification, Measurement,
regarding the Calculation of Risk-Weighted Assets Monitoring, and Control Processes, as well as
for Credit Risk Using the Standardized Approach for Information Systems.
Commercial Banks, following regulatory provisions. The process of risk identification, measurement,
monitoring, and control is carried out by the Risk
Management & ESG Work Unit (ERMD) and the
Operational & Digital Risk Management Work Unit
(DORD). These units identify and measure each
68 PT Bank Tabungan Negara (Persero) Tbk
Page 71
2024
Annual Report
type of risk and conduct regular risk monitoring and effectiveness and efficiency, as well as compliance
control to mitigate significant risks to the Company. with laws and regulations. According to COSO, internal
Risk identification, measurement, monitoring, and control objectives include operational objectives,
control are key components of the risk management reporting objectives, and compliance objectives.
implementation process.
4. Comprehensive Risk Control System. The Board of Commissioners is responsible for ensuring
To ensure effective Risk Management that the Board of Directors monitors the effectiveness
implementation, the Company has established of internal control implementation. Therefore, the
an internal control system aimed at safeguarding Board of Commissioners plays an active role in
the Company’s assets, ensuring the availability of ensuring improvements to issues that may reduce the
reliable financial and managerial reports, enhancing effectiveness of the internal control system. The Board
compliance with regulations and legal provisions, of Directors is responsible for establishing policies,
and minimizing the risk of losses, irregularities, and strategies, and internal control procedures, as well
violations of prudential principles. The Company has as monitoring the adequacy and effectiveness of the
conducted periodic reviews of the effectiveness of internal control system. The Board of Commissioners
internal control procedures and the risk management and the Board of Directors are also responsible for
framework. fostering high ethical standards and integrity while
creating an organizational culture that emphasizes the
The Company’s risk management is based on good importance of internal control among all employees of
corporate governance and involves all organs of the the Company.
Company in managing risk management. This is evident
in the structure of the Company’s risk management Furthermore, effective management oversight and a
organization. The Board of Commissioners, through well-implemented control culture foster the creation of a
the Risk Monitoring Committee meetings, and the Control Environment, reflecting the overall commitment,
Board of Directors, through the Risk Management behavior, awareness, and actions of the Board of
Committee meetings, are responsible for ensuring Commissioners and the Board of Directors in carrying
that risk management implementation is adequate out the Company’s operational control activities. The
in accordance with the Company’s characteristics, elements of the Control Environment include:
complexity, and risk profile on a periodic basis. 1. An adequate organizational structure;
Based on the review conducted in 2024, the Board of 2. Leadership style and the Company Management’s
Commissioners assesses that the risk management philosophy;
system has been implemented adequately. 3. Integrity, ethical values, and the competence of all
employees;
Internal Control System 4. The Company’s human resource policies and
procedures;
The internal control system implemented by the 5. Management and other committee oversight and
Company is considered effective and adequate, as direction, such as the Risk Management Committee;
reflected in the effectiveness of internal control functions, and
including internal audit, risk management, compliance, 6. External factors influencing the Bank’s operations
financial, and operational. The implementation of and risk management implementation.
the internal control system is carried out to support
the achievement of the Company’s performance In 2024, the Company has implemented internal
objectives, enhance value for stakeholders, minimize control in accordance with control principles, and
the risk of losses, and ensure compliance with laws and overall, the quality of the internal control system has
regulations. The Company applies the internal control been running effectively. The Company, through the
system as a key supervisory component in corporate Internal Audit Work Unit or Internal Audit Division (IAD),
management, serving as a reference for healthy and conducts Internal Control Assessment (ICA) periodically
controlled operational activities. The Company refers to evaluate the effectiveness of the internal control
to the Committee of Sponsoring Organizations of the system. This assessment measures the quality of
Treadway Commission (COSO) - Internal Control internal control in audited work units based on the
Integrated Framework in developing its internal control five components of the COSO Framework, using the
framework to ensure the adequacy of operational ICA rating questionnaire criteria and methodology, as
and financial controls, financial reporting, operational well as auditors’ professional judgment through direct
PT Bank Tabungan Negara (Persero) Tbk 69
Page 72
Report of Board of Directors, Board of Commissioners,
and Board of Sharia Supervisor
testing (walkthrough) in the field. In 2024, Company The Company has collaborated with the Corruption
has successfully implemented internal control in Eradication Commission (KPK) of the Republic of
accordance with control principles, and overall, the Indonesia regarding the handling of the Whistleblowing
internal control system has been operating effectively. System (WBS) as part of efforts to combat corruption.
This collaboration aims to build and enhance the
The Board of Directors and Board of Commissioners effectiveness and efficiency of complaint handling, both
are committed to ensuring that Good Corporate internally and externally, in an integrated, professional,
Governance (GCG) is properly implemented as a transparent, and accountable manner while prioritizing
foundation for achieving the Company’s objectives, confidentiality to optimize the eradication of corruption.
maintaining, and enhancing corporate value. One of the
key implementations of Good Corporate Governance The Company is committed to providing protection
is ensuring that the internal control system has been for every whistleblower. Protection is given to support
adequately executed. the whistleblower’s courage in reporting suspected
violations and/or in cases where there are retaliatory
The Board of Directors and Board of Commissioners or actions from the reported party. For whistleblowers
the Audit Committee periodically review the results of who submit WBS reports with recognized accuracy and
the evaluation of the effectiveness of the company’s in good faith, the Company can provide assurance
internal control system carried out by the IAD which of protection. Regarding WBS implementation. The
includes 5 (five) main components of internal control, Board of Commissioners plays a role in conducting
namely the Control Environment, including Management evaluations if violations are committed by the Board
Oversight and Control Culture, Risk Recognition and of Directors, member of the Board of Commissioners,
Assessment, Control Activities and Segregation of or Committees under the Board of Commissioners. The
Duties, Accountancy, Information and Communication Independent WBS Administrator will submit reports to
Systems, and Monitoring Activities and Correction of the Board of Commissioners. Subsequently, the Board
Deficiencies. Based on the review conducted in 2024, of Commissioners will validate and determine whether
the Board of Commissioners assesses that the internal a special investigative audit is warranted, which will
control system has been adequately implemented. then be carried out by Internal Audit Work Unit or
External Auditor Team. If a special audit is deemed
Whistleblowing System unnecessary, the handling will be adjusted according to
the Company’s regulations.
The Company’s Whistleblowing System (WBS) policy
is based on the Regulation of the Minister of State- The Company has internalized the Whistleblowing
Owned Enterprises No. PER-2/MBU/03/2023 concerning System (WBS) by distributing the Guidelines for the
Guidelines for Governance and Significant Corporate Implementation of the Whistleblowing System Policy,
Activities of State-Owned Enterprises, as well as the which was established based on the Technical
POJK No. 39/POJK.03/2019 regarding the Implementation Instructions, as well as conducting direct sharing
of Anti-Fraud Strategies for Commercial Banks, and session presentations for all company leaders and
Technical Guidelines No. PT.7-B.2 on the Management of employees. Additionally, to reach all stakeholders, the
the Whistleblowing System. The Company’s WBS is part WBS socialization has also been carried out through
of the internal control system to prevent irregularities the Company’s website and various media such as
and aims to provide early detection and prevention internal bulletins, posters, standing banners, customer
of deviations or violations while gradually fostering an gatherings, and direct presentations on the code of
open, sincere, honest, and responsible work environment ethics and WBS policy.
within the Company.
The Board of Commissioners views that the
The Company is committed to providing protection management of the WBS within the Company has been
for every whistleblower. Protection is given to support well implemented. This assessment is based on the
the whistleblower’s courage in reporting suspected management of complaint reports and the follow-up
violations and/or in cases where there are retaliatory actions taken. Throughout 2024, a total of 162 complaints
actions from the reported party. For whistleblowers were received, consisting of 67 complaints via SMS/
who submit WBS reports with recognized accuracy and Telephone/WhatsApp and 95 complaints via Email/
in good faith, the Company can provide assurance of Website/P.O. Box. Based on the number of complaints
protection.
70 PT Bank Tabungan Negara (Persero) Tbk
Page 73
2024
Annual Report
received, 112 complaints were unproven, 8 complaints As a commitment to the implementation of sustainable
are still in the process of gathering information/follow- finance, the Company has appointed the Enterprise & ESG
up, and the remaining 42 complaints have been Risk Management Unit as the authorized unit responsible
processed and/or have resulted in sanctions. for managing and coordinating Sustainable Finance
activities. The implementation of Sustainable Finance
Sustainability Governance programs involves various units, including Corporate
Secretary, Subsidized Mortgage, Corporate Banking,
The Company is committed to implementing the SME Banking, Commercial Banking, Procurement & Fixed
principles of good corporate governance (GCG) across Asset Management, Learning Management, Investor
all its operational lines. GCG serves as the fundamental Relations & Research, Compliance & Governance, Digital
guideline for the Company’s management, alongside & Operation Risk Management, Human Capital, and
legal regulations and business ethics. As an entity that Digital Banking.
upholds professionalism, the Company adopts GCG not
only to comply with applicable laws and regulations
but also as a conscious effort to leverage its benefits in Performance Assessment of
enhancing performance, excellence, and sustainable Committees Under The Board of
competitiveness. Commissioners
In facing competition in the banking industry, the The Board of Commissioners is assisted by three
Company actively strives to strengthen its position by committees: the Audit Committee, the Remuneration
optimally implementing GCG. The application of GCG and Nomination Committee, and the Risk Monitoring
brings various benefits to the Company, including Committee. The Board of Commissioners periodically
creating a balance in corporate control to mitigate the assesses the effectiveness of the performance
risk of fraud and minimizing the likelihood of errors in of these committees. The assessment is based
corporate management. on the Regulation of the Minister of State-Owned
Enterprises No. PER-3/MBU/03/2023 concerning the
The ability to meet the expectations of various Organization and Human Resources of State-Owned
stakeholders is a valuable asset for the Company to Enterprises and OJK Regulation No. 17 of 2023 on the
continue growing and achieving sustainability in the Implementation of Governance for Commercial Banks.
future. As a financial services institution, the Company The evaluation criteria for the committees under
is confident in its ability to overcome challenges and the Board of Commissioners are based on the Key
meet the demands of both internal and external Performance Indicators set for each committee, using
stakeholders through the proper implementation of a self-assessment method approved by the Board
GCG in accordance with applicable regulations and of Commissioners. The Board of Commissioners has
best practice standards. determined that throughout 2024, the committees have
carried out their duties and responsibilities effectively.
By applying the GCG paradigm comprehensively,
alignment between the interests and objectives of
the Company and its stakeholders will be achieved. Changes In The Composition of The
This alignment will ultimately drive the Company’s Board of Commissioners
long-term sustainability. To consistently strengthen
GCG over time, the Company has developed a GCG During 2024, there was a change in the composition of
roadmap encompassing 4 (four) main pillars. The first the Board of Commissioners. The changes were made
pillar is commitment to governance, which serves as based on the needs of the Company. The composition
the foundation for the other three pillars: governance of the Board of Commissioners before and after the
structure, governance process, and governance Annual General Meeting of Shareholders (AGMS) 2024 is
outcome. as follows:
PT Bank Tabungan Negara (Persero) Tbk 71
Page 74
Report of Board of Directors, Board of Commissioners,
and Board of Sharia Supervisor
COMPOSITION OF THE BOARD OF COMMISSIONERS BEFORE THE 2024 ANNUAL GMS
Before the 2024 Annual GMS, the Board of Commissioners consisted of 8 (eight) members, including 1 (one) President
Commissioner/Independent, 1 (one) Vice President Commissioner/Independent, 2 (two) Independent Commissioners,
and 4 (four) Commissioners, as follows:
Chandra M. Hamzah : President Commissioner/Independent
Iqbal Latanro : Vice President Commissioner/Independent
Armand B. Arief : Independent Commissioner
Sentot A. Sentausa : Independent Commissioner
Andin Hadiyanto : Commissioner
Herry Trisaputra Zuna : Commissioner
Himawan Arief Sugoto : Commissioner
Mohamad Yusuf Permana : Commissioner
COMPOSITION OF THE BOARD OF COMMISSIONERS AFTER THE 2024 ANNUAL GMS
On March 6, 2024, the 2024 Annual GMS decided to:
1. Confirm the dismissal of Ahdi Jumhari Luddin as Independent Commissioner and Mohamad Yusuf Permana as
Commissioner.
2. Dismiss Chandra M. Hamzah as President Commissioner/Independent Commissioner, Andin Hadiyanto as
Commissioner, and Armand B. Arief as Independent Commissioner.
3. Appoint Chandra M. Hamzah as President Commissioner/Independent Commissioner, Bambang Widjanarko as
Independent Commissioner, Armand B. Arief as Independent Commissioner, Adi Sulistyowati as Independent
Commissioner, and Andin Hadiyanto as Commissioner.
As a result, the composition of the Board of Commissioners after the 2024 Annual GMS consists of 9 (nine) members,
comprising 1 (one) President Commissioner/Independent Commissioner, 1 (one) Vice President Commissioner/
Independent Commissioner, 4 (four) Independent Commissioners, and 3 (three) Commissioners as follows:
Chandra M. Hamzah : President Commissioner/Independent
Iqbal Latanro : Vice President Commissioner/ Independent
Armand B. Arief : Independent Commissioner
Sentot A. Sentausa : Independent Commissioner
Adi Sulistyowati : Independent Commissioner
Bambang Widjanarko : Independent Commissioner
Andin Hadiyanto : Commissioner
Herry Trisaputra Zuna Commissioner
Himawan Arief Sugoto : Commissioner
72 PT Bank Tabungan Negara (Persero) Tbk
Page 75
2024
Annual Report
Closing
To the shareholders, the Board of Commissioners expresses its gratitude for the trust that has been given. The Board
of Commissioners extends its highest appreciation to the Board of Directors for successfully managing the Company
and achieving good performance in 2024. The Board of Commissioners also expresses appreciation to all employees
of the Company for their optimal contributions. The Board of Commissioners sincerely hopes that in the future, all
levels of the Company will continue to formulate the right strategies and lead the Company toward better growth.
Jakarta, February 28, 2025
On behalf of the Board of Commissioner
Chandra M. Hamzah
President Commissioner/ Independent
PT Bank Tabungan Negara (Persero) Tbk 73
Page 76
Report of Board of Directors, Board of Commissioners,
and Board of Sharia Supervisor
BOARD OF COMMISSIONERS
From Left to Right
Himawan Arief Sugoto Armand B. Arief
Commissioner Independent Commissioner
Bambang Widjanarko Chandra M. Hamzah
Independent Commissioner President Commissioner/Independent
Adi Sulistyowati
Independent Commissioner
74 PT Bank Tabungan Negara (Persero) Tbk
Page 77
2024
Annual Report
From Left to Right
Iqbal Latanro Herry Trisaputra Zuna
Deputy Commissioner/Independent Commissioner
Andin Hadiyanto Sentot A. Sentausa
Commissioner Independent Commissioner
PT Bank Tabungan Negara (Persero) Tbk 75
Page 78
Report of Board of Directors, Board of Commissioners,
and Board of Sharia Supervisor
Report of Sharia
Supervisory Board
In order to ensure that Islamic Financial Institutions at the implementation level do not deviate from sharia principles, in
carrying out its activities, the Company is supervised by the Sharia Supervisory Board which is tasked with supervising
the interests of the Company over policies and the management of the Board of Directors so that they are in accordance
with Sharia Principles and is responsible for such supervision, as well as providing advice to the Board of Directors
including providing sharia opinions regarding the Company’s activities in accordance with OJK Regulation number 2 of
2024 concerning Sharia Governance for Sharia Commercial Banks and Sharia Business Units.
Implementation of Sharia Supervisory Board Activities In 2023
In 2024, the Sharia Supervisory Board carried out the following activities:
1. Implementation of Meetings
The DPS meetings serve as a consultative forum among DPS members to discuss every strategic and operational
policy and decision. These meetings aim to fulfill the supervisory function, provide advice, and offer recommendations
to the Board of Directors and the Management of the Sharia Business Unit (UUS) to ensure compliance with Sharia
principles. Throughout 2024, DPS held 12 (twelve) meetings.
2. Frequency and Method of Providing Advice, Recommendations, and Supervision of Sharia Compliance in the
Capital Market for Issuers or Public Companies
Throughout 2024, DPS issued a total of 27 (twenty-seven) Sharia Supervisory Board Opinions. These opinions were
provided in response to the development of UUS BTN’s business operations to ensure continued compliance with
Sharia principles.
No. Date Opinion
1. February 21, 2024 Mechanism of Cessie Transactions for Securities (Sukuk).
2. February 21, 2024 Flow and Approval of Benevolent Funds or Funds That Cannot Be Recognized as Revenue (TBDSP
Funds).
3. March 18, 2024 Cash Waqf Linked Deposit (CWLD).
4. March 18, 2024 Auction of Items Stored in Safe Deposit Boxes (SDB).
5. March 19, 2024 Response to Special Policy on Consumer Financing Procedures for Subrogation, Customer
Transfer Novation, and Cessie.
6. April 25, 2024 Non-Certificate Deposits.
7. May 29, 2024 Implementation of Revenue Recording and Profit-Sharing Distribution for Sukuk.
8. May 29, 2024 Restructuring with Tiered Installments.
9. May 29, 2024 Addition of Gold Conversion Services in Gold Savings Accounts.
10. June 19, 2024 Pre-Realization Costs as a Component of Financing Limits for Murabahah, Istishna, and
Musyarakah Mutanaqisah Contracts.
11. September 27, 2024 Life Insurance Using Ciputra Life Products.
12. September 27, 2024 Proposed Changes to the Penalty Ta'zir Mechanism for Commercial Financing.
13. September 27, 2024 Amendments to Administrative Fees for Mudharabah Savings Contracts.
14. October 3, 2024 Addition of New Bancassurance Partners.
15. October 29, 2024 MMQ and Istishna Contracts for the Zero Mortgage Program Feature in BTN Inden iB Mortgages
and BTN iB Property Financing v1.
76 PT Bank Tabungan Negara (Persero) Tbk
Page 79
2024
Annual Report
Assalamu’alaikum
warahmatullahi
wabarakatuh
Dear Stakeholders and
Shareholders,
Allow me, on behalf of
the Sharia Supervisory
Board, to present
the report on the
supervision of activities
of the Company’s sharia
business units during
2024.
PROF. DR. H. MUHAMMAD
QURAISH SHIHAB, M.A.
Chairman of
the Sharia Supervisory Board
PT Bank Tabungan Negara (Persero) Tbk 77
Page 80
Report of Board of Directors, Board of Commissioners,
and Board of Sharia Supervisor
No. Date Opinion
16. October 29, 2024 Conversion of Murabahah Contract Customers to MMQ and IMBT Contracts.
17. November 7, 2024 Mobile Banking.
18. November 19, 2024 Update of the 2025 Recovery Plan for PT Bank Tabungan Negara (Persero) Tbk.
19. November 19, 2024 Expansion of BTN iB Sejahtera Mortgage Contracts Using Musyarakah Mutanaqisah Contracts.
20. November 19, 2024 Recruitment of Non-Muslim Human Resources (SDI).
21. December 9, 2024 Incorporation of Internal Control System Content on Financial Reporting into General Policy
Number KU.7 on Internal Control Systems.
22. December 20, 2024 Update of General Policy No. KU.1 on Bank Lending or Financing.
23. December 20, 2024 Update of Special Policy No. KK.8-J on Risk Management Procedures.
24. December 20, 2024 Disbursement of Indent Mortgages Using Istishna Contracts at 100% in advance to the Developer
and the KPRI indent Financing Agreement uses the MMQ agreement.
25. December 20, 2024 Utilization of the Retail Credit Risk Division (RCRD) BTN Konvensional in deciding on Sharia
Consumer Financing above the Authority of the Branch Manager.
26. December 20, 2024 BTN iB Multipurpose Financing (Murabahah) for the Purchase of Burial Plots.
27. December 20, 2024 Update of General Policy Number KU.2 on Treasury, Funding, and Product Delivery.
3. Report on Supervision Results and SSB Recommendations
Pada periode tahun 2024, DPS telah melakukan pelaporan atas Laporan Hasil Pengawasan Dewan Pengawas
Syariah untuk Semester II Tahun 2023 dan Semester I Tahun 2024 secara tepat waktu.
Performance Assessment of The Changes in The Composition of The
Sharia Supervisory Board Sharia Supervisory Board
The DPS performance assessment is conducted for Throughout 2024, there were no changes in the
a one-year period. In the first stage, DPS members composition of the Sharia Supervisory Board. The Sharia
perform a self-assessment of their performance. In Supervisory Board consists of three (3) members,
the second stage, the Remuneration and Nomination comprising one (1) Chairman and two (2) Board
Committee reviews the self-assessment results and DPS Members, as follows:
performance evaluation and uses them as input for the
Board of Commissioners, which will then be determined Prof. Dr. H. Muhammad Quraish Shihab, MA : Chairman
by the Annual GMS. Throughout 2024, the DPS has carried H. Mohamad Bagus Teguh Perwira, LC, MA : Member
out its duties and responsibilities effectively. H. Muhammad Faiz, LC, MA : Member
Closing
This concludes the Sharia Supervisory Board Report for 2024. Moving forward, the Sharia Supervisory Board remains
committed to ensuring adherence to Sharia principles and compliance with applicable laws and regulations by continuously
advising the Company’s Management. Through this commitment, the Company can achieve even better performance.
Wassalamualaikum Warahmatullahi Wabarakatuh,
Jakarta, February 28, 2025
On behalf of the Sharia Supervisory Board
Prof. Dr. H. Muhammad Quraish Shihab, MA
Chairman of the Sharia Supervisory Board
78 PT Bank Tabungan Negara (Persero) Tbk
Page 81
2024
Annual Report
SHARIA SUPERVISORY BOARD
From Left to Right
H. Muhammad Faiz, LC, MA H. Mohamad Bagus Teguh Perwira, LC, MA
Member of the Sharia Supervisory Board Member of the Sharia Supervisory Board
Prof. Dr. H. Muhammad Quraish Shihab, M.A
Chairman of the Sharia Supervisory Board
PT Bank Tabungan Negara (Persero) Tbk 79
Page 82
Accountability
of Annual Report
Letter of Statement of the Members of Board of Directors
on 2024 Annual Accountability Report
of PT Bank Tabungan Negara (Persero) Tbk
We, the undersigned below, declare that all information in the 2024 Annual Report of PT Bank Tabungan
Negara (Persero) Tbk has been completely disclosed and we are fully accountable for the truthfulness of
its content. We also declare that the Company Risk Management and Internal Control System is adequate.
This statement is made truthfully.
Jakarta, February 28, 2025
Nixon L.P. Napitupulu Oni Febriarto Rahardjo
President Director Vice President Director
Nofry Rony Poetra Eko Waluyo Setiyo Wibowo
Director of Finance Director of Human Capital, Director of Risk Management
Compliance, and Legal
Andi Nirwoto Elisabeth Novie Riswanti Jasmin
Director of Information Technology Director of Assets Management Director of Distribution
and Institutional Funding
Hirwandi Gafar Hakim Putratama Muhammad Iqbal
Director of Consumer Director of Operations Director of SME and Retail Funding
and Customer Experience
80 PT Bank Tabungan Negara (Persero) Tbk
Page 83
2024
Annual Report
Letter of Statement of the Members of Board of Commissioners
on 2024 Annual Accountability Report
of PT Bank Tabungan Negara (Persero) Tbk
We, the undersigned below, declare that all information in the 2024 Annual Report of PT Bank Tabungan
Negara (Persero) Tbk has been completely disclosed and we are fully accountable for the truthfulness of
its content. We also declare that the Company Risk Management and Internal Control System is adequate.
This statement is made truthfully.
Jakarta, February 28, 2025
Chandra M. Hamzah Iqbal Latanro Armand B. Arief
President/Independent Commissioner Vice President/ Independent Commissioner
Independent Commissioner
Sentot A. Sentausa Adi Sulistyowati Bambang Widjanarko
Independent Commissioner Independent Commissioner Independent Commissioner
Andin Hadiyanto Himawan Arief Sugoto Herry Trisaputra Zuna
Commissioner Commissioner Commissioner
PT Bank Tabungan Negara (Persero) Tbk 81
Page 84
COMPANY PROFILE PT Bank Tabungan Negara (Persero) Tbk (“Company/BTN”) began with the establishment of Postspaarbank in 1897. Currently, the Company has 630 Conventional Office networks and 110 Sharia Office networks. 82 PT Bank Tabungan Negara (Persero) Tbk
Page 85
PT Bank Tabungan Negara (Persero) Tbk 83
Page 86
Company
Profile
Company
Identity
Common Authorized
Name Capital
BTN (Perseroan) IDR10,239,216,000.000
Date of Issued and
Establishment Paid-up Capital
February 9, 1950 IDR7,017,222,206,500
Company
Line of
Status
Business
Limited Liability Company (PT)/
Commercial Bank,
Public Company/
including conducting sharia
State-Owned Enterprise (BUMN)
banking activities
Stock
Exchange Listing Business
December 17,
Network Data
2009 on Indonesia Stock Exchange • Conventional Banking Network:
8 Regional Offices, 82 Branch
Offices, 536 Sub-branch
Offices, and 4 Functional
Number of Office.
Employees • Sharia Banking Network: 35
Sharia Branch Offices, and 75
12,847 As of Sharia Sub-branch Offices.
December 31, 2024
Stock
Ownership
Code
BBTN
10.73%
Note:
Government of the Republic of Indonesia
60.00%
29.27% Domestic Public
Foreign Public
84 PT Bank Tabungan Negara (Persero) Tbk
Page 87
2024
Annual Report
PT Bank Tabungan Negara (Persero) Tbk
Information
Access
Head Office Company Secretary
Menara BTN Ramon Armando
Jl. Gajah Mada No. 1 Jakarta 10130, Indonesia
Menara BTN
(021) 6336789, 6332666 Jl. Gajah Mada No.1, Jakarta Pusat 10130
(021) 6346704
(021) 6336789 ext. 2003
csd@btn.co.id
(021) 6336719
www.btn.co.id
ramon.armando@btn.co.id
1500-286
Functional Office Investor Relations
JL. H.R. Rasuna Said No 1 Jakarta 12980 PT Bank Tabungan Negara (Persero) Tbk
Indonesia Menara BTN Lantai 16
csd@btn.co.id Jalan Gajah Mada No. 1 Jakarta Pusat 10130
www.btn.co.id +62 21 63870107
1500-286 investor_relations@btn.co.id
Social Media
Public Information Services
Bank BTN @btn PT Bank Tabungan Negara (Persero) Tbk
@bankbtn Bank BTN ppid.btn.co.id
Legal Basis of
Establishment
• Emergency Law No. 9 of 1950 dated February 9, 1950 on Amendment to Postspaarbank Law
(Staatsblad 1934 No. 653, 1937 No. 176 and 197 and 1941 No. 295) (State Gazette of the Republic
of Indonesia No. 12 of 1950).
• Government Regulation as Substitution of Law No. 4 of 1963 dated June 22, 1963 on
Amendment to and Supplement of Law No. 36 of 1953 on Bank Tabungan Negara (State
Gazette No. 86 of 1953).
• Government Regulation No. 24 of 1992 dated April 29, 1992 on Adjustments to Bank Tabungan
Negara’s Legal Form into a Limited Liability Company (Persero).
• The Bank’s Deed of Establishment as a Limited Liability Company No. 136 dated July 31, 1992
which was made before Muhani Salim, S.H., a Notary based in Jakarta.
PT Bank Tabungan Negara (Persero) Tbk 85
Page 88
Company
Profile
Names and Addresses of Regional Offices,
Conventional Branch Offices and Sharia Branch Offices
REGIONAL OFFICE
West Java Regional Office Jakarta Regional Office 1
Jl. Jend. Sudirman No. 19 Bekasi 17143 Menara BTN, Jl Gajah Mada No 1 RT 2 RW 8, Petojo Utara
Telp : (021) 88953281, 88953282 Kecamatan Gambir Kota Jakarta Pusat, DKI Jakarta 10130
Email : kantorwilayahjabar@btn.co.id Telp : (021) 6336789
Web : www.btn.co.id Email : kanwiljakarta1@btn.co.id
Web : www.btn.co.id
Jakarta Regional Office 2 Sumatera Regional Office
Gedung Menara 2 BTN Lt 16-17, Jl HR Rasuna Said No 1, RT 1 / Gedung Graha Merah Putih Lt. 8, Jl. Puteri Hijau No. 1,
RW 6, Kelurahan Guntur, Kecamatan Setiabudi, Kota Jakarta Kesawan, Medan 20111
Selatan, Daerah Khusus Ibukota Jakarta 12980 Telp : (061) 80011133
Telp :- Email : kantorwilayahsumatera@btn.co.id
Email : kantorwilayah2@btn.co.id Web : www.btn.co.id
Web : www.btn.co.id
East Java, Bali & Nusa Regional Office Sulawesi, Maluku & Papua Regional Office
Gedung Graha Sudirman, Jl. Panglima Sudirman No. 7-9, Kel. JL. Sultan Hassanudin No. 1 Makassar
Gembong Asin, Kec. Genteng, Kota. Surabaya - Jawa Timur Telp : 0411 - 5070760
Telp : (031) 5661704 , 5661204 Email : kantorwilayahsulampua@btn.co.id
Email : kantorwilayah.jatimbalinusra@btn.co.id Web : www.btn.co.id
Web : www.btn.co.id
Central Java & DIY Regional Office Kalimantan Regional Office
Jl. M.T. Haryono No. 717 Semarang 50242 Jl Jendral Sudirman Kompleks Ruko Balikpapan Permai
Telp : (024) 8455932 Blok H.1 No 23-27 Kelurahan Damai Kecamatan Balikpapan
Email : kantorwilayahjatengdiy@btn.co.id Selatan Kota Balikpapan
Web : www.btn.co.id Telp : 0542-3010057, 3010058
Email : ro.kalimantan@btn.co.id
Web : www.btn.co.id
CONVENTIONAL BRANCH OFFICE
CONVENTIONAL BRANCH OFFICE (WEST JAVA REGIONAL OFFICE)
Bandung Branch Office East Bandung Branch Office
Jl. Jawa No. 7 Bandung 40117 Jl. Siliwangi No. 16 Cirebon 45121
Telp : (022) 4232112, 4241036 Telp : (0231) 209143, 209153
Email : kc.bandung@btn.co.id Email : kc.cirebon@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Bekasi Branch Office Harapan Indah Bekasi Branch Office
Jl. Jend. Sudirman No. 19 Bekasi 17143 Jl. Sutisna Senjaya No. 101
Telp : (021) 8840649 Tasikmalaya 46112
Email : kc.bekasi@btn.co.id Telp : (0265) 334464, 334465
Web : www.btn.co.id Email : kc.tasikmalaya@btn.co.id
Web : www.btn.co.id
Cikarang Branch Office Cimahi Branch Office
Jl. Raya Cinunuk No. 223 A Jl. Jend. Amir Machmud/Raya Timur No. 475 Cimahi 40524
Kec. Cileunyi, Kab. Bandung Telp : (022) 6651644, 6651645
Telp : (022) 7816883 Email : kc.cimahi@btn.co.id
Email : kc.bandungtimur@btn.co.id Web : www.btn.co.id
Web : www.btn.co.id
86 PT Bank Tabungan Negara (Persero) Tbk
Page 89
2024
Annual Report
Cirebon Branch Office Karawang Branch Office
Pertokoan Cikarang Central City Blok B No 2, 3, 5, 6, Jl. Raya Jl. Galuh Mas Raya Blok VI-A No. 6, Desa. Sukaharja, Kec.
Cikarang - Cibarusah, 17530 Kab. Bekasi Teluk Jambe, Timur, Kab. Karawang - Jawa Barat
Telp : (021) 22180090/ 22180096 Telp : (0267) 8411400, 8411500
Email : kc.cikarang@btn.co.id Email : kc.karawang@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Purwakarta Branch Office Tasikmalaya Branch Office
Jl. RE. Martadinata No. 1 Purwakarta 41114 Ruko Office Park Harapan Indah, Blok OP Kavling
Telp : (0264) 201024, 210830, No. OP1-01 & OP1-02 Harapan Indah - Bekasi 17132
210831, 206637 Telp : (021) 88386971(hunting),
Email : kc.purwakarta@btn.co.id 88386972, 88386973
Web : www.btn.co.id Email : kc.harapanindah@btn.co.id
Web : www.btn.co.id
CONVENTIONAL BRANCH OFFICE (JAKARTA REGIONAL OFFICE 1)
Bintaro Jaya Branch Office Jakarta Harmoni Branch Office
CBD Bintaro Blok B7 No. A3 - 04A, Kel. Pondok Jaya, Kec. Menara BTN
Pondok Aren, Tangerang Selatan Jl. Gajah Mada No. 1 Jakarta Pusat 10130
Telp : (021) 22215981 Telp : (021) 6336789, 6332666, 2310490
Email : kc.bintarojaya@btn.co.id Email : kc.jakartaharmoni@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Kelapa Gading Square Branch Office Jakarta Kebon Jeruk Branch Office
Gedung Emerald Tower, Jl. Boulevard Barat Blok XB No. 3 Jl. Anggrek No. 01 Kel. Kelapa Dua
Kelapa Gading - Jakarta Utara 14240 Kec. Kebon Jeruk Kebon Jeruk Jakarta Barat 11550
Telp : (021) 45866883, 45866884 Telp : (021) 53666345
Email : kc.kelapagadingsquare@btn.co.id Email : kc.jakartakebonjeruk@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Cilegon Branch Office Tangerang Branch Office
Jl. Sultan Ageng Tirtayasa No. 49, Cilegon 42414 Jl. Perintis Kemerdekaan No. 01 Tangerang 15118
Telp : (0254) 391766, 392681, 393479 Telp : (021) 5539363
Email : kc.cilegon@btn.co.id Email : kc.tangerang@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Ciputat Branch Office Jakarta Pluit Branch Office
Jl. Dewi Sartika No. 21 Jl. Pluit Kencana Raya No. 79, Pluit,
Ciputat Tangerang Selatan 15411 Penjaringan, Jakarta Utara 14450
Telp : (021) 7445145 Telp : (021) 66607390, 66607391, 66607392
Email : kc.ciputat@btn.co.id Email : kc.jakartapluit@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Bumi Serpong Damai Branch Office Karawaci Branch Office
Kompleks BSD, Ruko Sektor VII E Perumnas Karawaci I
Blok K No. 8 Jl. Raya Serpong, Tangerang 15310 Jl. Cendrawasih No. 1, Tangerang 15115
Telp : (021) 5372235, 5372237 Telp : (021) 5517849, 5517850
Email : kc.bumiserpongdamai@btn.co.id Email : kc.karawaci@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Agung Sedayu Branch Office
Agung Sedayu Tower GF Unit A & B, Jl. Boulevard No 02, Pantai Indah Kapuk, Kamal Mutiara, Penjaringan
Telp : 021-50206007, 50201008
Email : kc.agungsedayu@btn.co.id
Web : www.btn.co.id
PT Bank Tabungan Negara (Persero) Tbk 87
Page 90
Company
Profile
CONVENTIONAL BRANCH OFFICE (JAKARTA REGIONAL OFFICE 2)
Depok Branch Office Jakarta Cawang Branch Office
Jl. Margonda Raya No. 186 Gedung Yodya Tower Lt. 1-3, Jl. Mayjen DI Panjaitan Kav 8,
Depok 16423 RT 003, RW 011, Kel. Cipinang Cempedak, Kec. Jatinegara,
Telp : (021) 7751236, 7751237 Jakarta Timur 13340
Email : kc.depok@btn.co.id Telp : (021) 22986826, 22986827
Web : www.btn.co.id Email : kc.jakartacawang@btn.co.id
Web : www.btn.co.id
Bogor Branch Office Cibinong Branch Office
Jl. Pengadilan Ruko Cibinong City Centre Blok B20-21 & D20-21 Jl. Tegar
No. 13-15 Bogor 16121 Beriman Kel. Pakansari Kec. Cibinong - Kab. Bogor
Telp : (0251) 8311700 Telp : (021) 83721442
Email : kc.bogor@btn.co.id Email : kc.cibinong@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Jakarta Kuningan Branch Office Cibubur Branch Office
Gedung Menara 2 BTN, Jl HR Rasuna Said No 1, RT 1 / RW Jl Alternatif Cibubur Kp Nagrak RT 001 RW 003 Kelurahan/
6, Kelurahan Guntur, Kecamatan Setiabudi, Kota Jakarta Desa Nagrak Kecamatan Gunung Putri Kabupaten Bogor –
Selatan, Daerah Khusus Ibukota Jakarta 12980 Jawa Barat
Telp : (021) 52964652 Telp : (021) 84300071, 84300073
Email : kc.jakartakuningan@btn.co.id Email : kc.cibubur@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Jakarta Melawai Branch Office Sukabumi Branch Office
Jl. Melawai Raya No. 19 C-D, Jl. Jendral Sudirman No. 49,
Kel. Melawai, Kec. Kebayoran Baru, Jakarta Selatan Kel. Sriwedari, Kec. Gunung Puyuh Sukabumi - Jawa Barat
Telp : (021) 27517843, 27517840 Telp : (0266) 223446,235951
Email : kc.jakartamelawai@btn.co.id Email : kc.sukabumi@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
CONVENTIONAL BRANCH OFFICE (EAST JAVA BALI NUSRA REGIONAL OFFICE)
Surabaya Branch Office Denpasar Branch Office
Jl. Pemuda No. 50 Surabaya 60271 Jl. Dewi Sartika No. 2 Denpasar 80114
Telp : (031) 5353513, 5353519 Telp : (0361) 243811
Email : kc.surabaya@btn.co.id Email : kc.denpasar@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Sidoarjo Branch Office Malang Branch Office
Jl. Ahmad Yani No. 15, Sidoarjo 61212 Jl. Ade Irma Suryani No. 2-4 Malang 65119
Telp : (031) 8929211, 8957949, 8957950, 8957175 Telp : (0341) 323956
Email : kc.sidoarjo@btn.co.id Email : kc.malang@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Mataram Branch Office Surabaya Bukit Darmo Branch Office
Jl. Pejanggik No. 99-101 Jl. Mayjend HR Muhammad Kav. 399
Cakranegara Mataram 83121 Kel. Putat Gede, Kec. Sukomanunggal
Telp : (0370) 631186, 638289 Telp : (031) 7323344
Email : kc.mataram@btn.co.id E-mail : kc.surabayabukitdarmo@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Bangkalan Branch Office Kupang Branch Office
Jl. Teuku Umar No. 16 Kel. Kemayoran, Kec. Bangkalan 69116 Jl. Jend. Sudirman No. 87 Kupang 85119
Telp : (031) 3098929, 3098831, 3098930 Telp : (0380) 831004
Email : kc.bangkalan@btn.co.id Email : kc.kupang@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
88 PT Bank Tabungan Negara (Persero) Tbk
Page 91
2024
Annual Report
Madiun Branch Office Mulyosari Branch Office
Jl. Dr. Sutomo Jl. Raya Mulyosari No. 82,
No. 38 Madiun 63117 Kel. Dukuh Sutorejo, Kec. Mulyorejo, Kota. Surabaya 60112
Telp : (0351) 451460, 459034, 457927, 459500, 459600 Telp : (031) 5931763
Email : kc.madiun@btn.co.id Email : kc.mulyosari@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Kediri Branch Office Jember Branch Office
Jl. Diponegoro No. 22 - 24 Kediri, 64121 Jl. A. Yani No. 05 Jember 68118
Telp : (0354) 691260, 691262 Telp : (0331) 484611, 489292, 489266
Email : kc.kediri@btn.co.id Email : kc.jember@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Banyuwangi Branch Office Gresik Branch Office
Jl. Brawijaya No. B-1 dan B-2, Kel. Sobo, Kompleks Pertokoan Multi Sarana Plaza Blok C 01 No. 1
Kec. Banyuwangi, Kab. Banyuwangi 68418 Jl. Gubernur Suryo, Gresik 61118
Telp : (0333) 414490, 415690 Telp : (031) 3973455
Email : kc.banyuwangi@btn.co.id Email : kc.gresik@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Mojokerto Branch Office Singaraja Branch Office
Jl. Majapahit No. 130 - 134 Blok1-2 Jl. Ahmad Yani No. 190,
Mojokerto 61323 Kel. Banyuasri, Kec. Buleleng, Kab. Buleleng
Telp : (0321) 323850, 323853 Telp : (0362) 21856
Email : kc.mojokerto@btn.co.id Email : kc_singaraja@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
CONVENTIONAL BRANCH OFFICE (SUMATERA REGIONAL OFFICE)
Medan Branch Office Palembang Branch Office
Jl. Pemuda No. 10A Medan 20151 Jl. Jend. Sudirman Km. 4, 5 No. 125, Palembang 30128
Telp : (061) 4149777 Telp : (0711) 411175, 410552
Email : kc.medan@btn.co.id Email : kc.palembang@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Padang Branch Office Batam Branch Office
Jl. H. R. Rasuna Said No. 3, Jl. Raja Isa No. 1,
Jati Baru Padang Tim, Kota Padang 25129 Batam Center
Telp : (0751) 31903, 32094, 32096 Telp : (0778) 470630, 470625, 470628
Email : kc.padang@btn.co.id Email : kc.batam@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Pekanbaru Branch Office Jambi Branch Office
Jl. Jend. Sudirman No. 393 Pekanbaru 28116 Jl. H. M. Yusuf Singadikane No. 146 Jambi 36122
Telp : (0761) 40494, 40185, 40188 Telp : (0741) 61793, 61792
Email : kc.pekanbaru@btn.co.id Email : kc.jambi@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Pematangsiantar Branch Office Bandar Lampung Branch Office
Jl. Sutomo No. 5 G-H, Kel. Proklamasi Jl. Wolter Monginsidi No. 80-88
Kec. Pematang Siantar Barat - Pematang Siantar Bandar Lampung 35215
Telp : (0622) 28887 Telp : (0721) 489253, 489255, 484778, 483256
Email : kc.pematangsiantar@btn.co.id Email : kc.bandarlampung@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
PT Bank Tabungan Negara (Persero) Tbk 89
Page 92
Company
Profile
Bengkulu Branch Office Tanjung Pinang Branch Office
Jl. Soeprapto No. 7 - 8, Jl. D.I. Panjaitan Km. 9 Komplek Plaza Bintan Center Blok
Bengkulu 38223 Bunga No. 9-12 Tanjung Pinang
Telp : (0736) 20875 Telp : (0771) 7447101, 7447088
Email : kc.bengkulu@btn.co.id Email : kc.tanjungpinang@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Pangkal Pinang Branch Office
Jl. Perniagaan, Mall Bangka Trade, Center B11 - B14 - Pangkal Pinang
Telp : (0717) 423748
Email : kc.pangkalpinang@btn.co.id
Web : www.btn.co.id
CONVENTIONAL BRANCH OFFICE (SULAWESI, MALUKU, PAPUA REGIONAL OFFICE)
Makassar Branch Office Manado Branch Office
Jl. Kajaolalido No. 4 Makassar 90111 Jl. Wolter Monginsidi No. 56, Manado 95115
Telp : (0411) 316016, 316011 Telp : (0431) 868095, 855504, 855505
Email : kc.makassar@btn.co.id Email : kc.manado@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Parepare Branch Office Kendari Branch Office
Jl. Adi Makkasau No 115-117, Lakessi, Kec. Soreang, Kota. Jl. A. Yani , Komplek A. Yani Square
Parepare, Sulawesi Selatan 91131 Blok. A6-7 Kendari 93117
Telp : (0421) 28115 Telp : (0401) 322101
Email : kc_parepare@btn.co.id Email : kc.kendari@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Ambon Branch Office Jayapura Branch Office
Jl. Diponegoro No. 75B Ambon Jl. Koti No. 22 Jayapura 99111
Telp : (0911) 355882, 354471, 348552, 355882 Telp : (0967) 537970, 537971
Email : kc.ambon@btn.co.id Email : kc.jayapura@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Palu Branch Office Panakkukang Branch Office
Jl. Jend. Sudirman No. 2, Palu 94111 Jl. Hertasning Blok I No. 2 Makassar 90222
Telp : (0451) 424555, 428555 Telp :(0411) 868831, 868833
Email : kc.palu@btn.co.id Email : kc.panakukang@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Gorontalo Branch Office Ternate Branch Office
Jl. Nani Wartabone No. 3, JL. Pahlawan Revolusi No. 152
Kel. Limba U I, Kec. Kota Selatan, Kota. Gorontalo Kel. Gamalama, Ternate Tengah - Maluku Utara 97721
Telp : (0435) 830490, 829481 Telp : (0921) 3111330
Email : kc.gorontalo@btn.co.id Email : kc.ternate@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Mamuju Branch Office
Jl KS Tubun No 18, Kabupaten Mamuju
Telp : (0426) 22389
Email : kc.mamuju@btn.co.id
Web : www.btn.co.id
90 PT Bank Tabungan Negara (Persero) Tbk
Page 93
2024
Annual Report
CONVENTIONAL BRANCH OFFICE (KALIMANTAN REGIONAL OFFICE)
Palangkaraya Branch Office Banjarmasin Branch Office
Jl. Diponegoro No. 23 Palangkaraya 73111 Jl. R. E. Martadinata No. 4 Banjarmasin 70111
Telp : (0536) 3220602, 3223975 Telp : (0511) 4368133, 4366669, 4366670
Email : kc.palangkaraya@btn.co.id Email : kc.banjarmasin@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Samarinda Branch Office Pontianak Branch Office
Jl. RE. Martadinata No. 01 Samarinda 75127 Jl. Imam Bonjol No. 29 Pontianak 78122
Telp : (0541) 736930, 731695, 731510 Telp : (0561) 740163
Email : kc.samarinda@btn.co.id Email : kc.pontianak@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Balikpapan Branch Office Tarakan Branch Office
Jl. Jend. Sudirman No. 141, Jl. Mulawarman No. 10
Balikpapan Kel. Karang Anyar, Kec. Tarakan Barat, Kota Tarakan
Telp : (0542) 420333 Telp : (0551) 24322
Email : kc.balikpapan@btn.co.id Email : kc.tarakan@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Banjarbaru Branch Office
Jl. Ahmad Yani Km 33 RT 01 RW 01, Loktabak Utara, Banjarbaru, Kalimantan Selatan 71114
Telp : (0511) 6749738, 6749831
Email : kc.banjarbaru@btn.co.id
Web : www.btn.co.id
CONVENTIONAL BRANCH OFFICE (CENTRAL JAVA & DIY REGIONAL OFFICE)
Semarang Branch Office Yogyakarta Branch Office
Jl. M.T. Haryono No. 717 Semarang 50242 Jl. Jend. Sudirman No. 71 Yogyakarta 55223
Telp : (024) 312151, 446166 Telp :(0274) 589898, 581014, 581016
Email : kc.semarang@btn.co.id Email : kc.yogyakarta@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Solo Branch Office Pekalongan Branch Office
Jl. Slamet Riyadi No. 282 Solo 57141 Jl. Merdeka No. 7 Pekalongan 51113
Telp : (0271) 726930 Telp : (0285) 433883, 433884
Email : kc.solo@btn.co.id Email : kc.pekalongan@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Purwokerto Branch Office Tegal Branch Office
Jl. Jend. Sudirman No. 431 Purwokerto 53116 Jl. Gajah Mada No. 33 - Tegal
Telp : (0281) 641114 Telp :(0283) 343050, 343835, 323038
Email : kc.purwokerto@btn.co.id Email : kc.tegal@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Kudus Branch Office Magelang Branch Office
Jl. AKBP Agil Kusumadya No 32 Kecamatan Jati Kudus Jl. Tentara Pelajar No. 40, Magelang 56116
Telp : (0291) 438732 Telp :(0293) 3215983
Email : kc.kudus@btn.co.id Email : kc.magelang@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
PT Bank Tabungan Negara (Persero) Tbk 91
Page 94
Company
Profile
SHARIA BRANCH OFFICE
SHARIA BRANCH OFFICE (WEST JAVA REGIONAL OFFICE)
Bandung Sharia Branch Office Bekasi Sharia Branch Office
Jl. Diponegoro No. 8, Bandung Jl. Ahmad Yani, Ruko Sentra Niaga Kalimalang Blok A.IV
Kel. Citarum, Kec. Bandung Wetan No.5-6 dan Blok B No. 1 Kel. Kayuringin Jaya, Kec. Bekasi
Bandung 40115 Selatan, Kota Bekasi 17144
Telp : (022) 4265472, 4265473, 4265474 Telp : (021) 8893333
Email : kcs.bandung@btn.co.id Email : kcs.bekasi@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Karawang Sharia Branch Office Cirebon Sharia Branch Office
Jl. Kertabumi no 29 C-D, Kelurahan Nagasari, Kecamatan Jl. Raden Ajeng Kartini No. 68,
Karawang Barat, Kabupaten Karawang 41311 Kel. Sukapura, Kec. Kejaksan, Cirebon
Telp : 0267 - 8400888, 8400999 Telp : (0231) 235485, 235486, 235488
Email : kcs.karawang@btn.co.id Email : kcs.cirebon@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Tasikmalaya Sharia Branch Office
JI. Yudanegara No. 10 Kel. Yudanegara Kec. Cihideung Kota Tasikmalaya 46112
Telp : (0265) 310612, 7296566, 7296567, 7296568
Email : kcs.tasikmalaya@btn.co.id
Web : www.btn.co.id
SHARIA BRANCH OFFICE (JAKARTA REGIONAL OFFICE 1)
Jakarta Harmoni Sharia Branch Office Tangerang Sharia Branch Office
Jl. Ir H Juanda No. 27A, Jl. Serpong Raya, Ruko Villa Melati Mas
Kebon Kelapa, Kecamatan Gambir - Jakarta Pusat Blok. SR-1 No. 23-24 Serpong - Tangerang 15320
Telp : (021) 35285009 Telp : (021) 5370773
Email : kcs.jakartaharmoni@btn.co.id Email : kcs.tangerang@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Serang Sharia Branch Office
Jl. Jend Ahmad Yani No. 175, Cipete Kel. Sumur Pecung, Kec. Serang, Kota Serang - Banten
Telp : (0254) 7915869
Email : kcs.cilegon@btn.co.id
Web : www.btn.co.id
SHARIA BRANCH OFFICE (JAKARTA REGIONAL OFFICE 2)
Bogor Sharia Branch Office Depok Sharia Branch Office
Jl. Jendral Sudirman No. 01, Jl. Margonda Raya No. 438B-D,
Kec. Bogor Tengah, Bogor 16121 Kel. Pondok Cina, Kec. Beji Kota Depok
Telp : (0251) 8327171, 8327575 Telp : (021) 7867661
Email : kcs.bogor@btn.co.id Email : kcs.depok@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Jakarta Sharia Branch Office Pasar Minggu
Ruko Grand Palace Blok G & H, Jl. Raya Ps. Minggu Km 16 Pancoran - Jakarta Selatan
Telp :(021) 7993662, 7993015
Email : kcs.pasarminggu@btn.co.id
Web : www.btn.co.id
92 PT Bank Tabungan Negara (Persero) Tbk
Page 95
2024
Annual Report
SHARIA BRANCH OFFICE (EAST JAVA, BALI & NUSRA REGIONAL OFFICE)
Surabaya Sharia Branch Office Malang Sharia Branch Office
Jl. Diponegoro Jl. Jaksa Agung Suprapto No. 87 Kel. Rampal Celaket,
No. 29 Surabaya 60271 Kec. Klojen, Kota Malang 65112
Telp : (031) 5666363,5610518 Telp : (0341) 3012469
Email : kcs.surabaya@btn.co.id Email : kcs.malang@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Mataram Sharia Branch Office Jember Sharia Branch Office
Jl. Pejanggik No. 18-19 Kel. Jl. Hayam Wuruk No 16 Kelurahan Kaliwates
Cakranegara Kab. Mataram Kecamatan Kaliwates Kabupaten Jember
Telp : (0370) 7503646 Telp : (0331) 491009, 491010
Email : kcs.mataram@btn.co.id Email :kcs.jember@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
SYARIAH BRANCH OFFICE (SUMATERA REGIONAL OFFICE)
Batam Sharia Branch Office Medan Sharia Branch Office
Jl. Sriwijaya Komp. Regency Park Lot 29 Jl. Diponegoro No 34 Kelurahan Madras Hulu
Pelita - Batam 29432 Kecamatan Medan Polonia Kota Medan
Telp : (0778) 421921 Telp : (061) 4144554
Email : kcs.batam@btn.co.id Email : kcs.medan@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Pekanbaru Sharia Branch Office Palembang Sharia Branch Office
Jl. Jendral Sudirman No 203 C D E F G, Kelurahan Jl. A Rivai No. 221,
Tangkerang Tengah, Kecamatan Merpoyan Damai, Kota Kel. 26 Ilir D.1, Kec. Ilir Barat I,
Pekanbaru 28128 Palembang, Sumatera Selatan
Telp : (0761) 7891314 Telp : (0711) 365808, 354001, 353230
Email : kcs.pekanbaru@btn.co.id Email : kcs.palembang@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Banda Aceh Sharia Branch Office Bengkulu Sharia Branch Office
Jl. H.M Daud Beureuh No. 39, Desa. Kuta Alam, Kec. Kuta JL. S. Parman No. 24, Kel. Penurunan, Kec. Ratu Samban,
Alam, Kota. Banda Aceh Kota Bengkulu, Provinsi Bengkulu
Telp : (0651) 40331 Telp : (0736) 78604566
Email : kcs.bandaaceh@btn.co.id Email : kcs.bengkulu@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Jambi Sharia Branch Office Padang Sharia Branch Office
Jl. Hayam Wuruk No. 27, Jl. Belakang Olo No. 47,
Kel. Cempaka Putih, Kec. Jelutung - Kota Jambi Kel. Kp Jao, Kec. Padang Barat, Padang, Sumatera Barat
Telp : (0741)- 3620645, 3620687 Telp : (0751)- 8954842, 8954832
Email : kcs.jambi@btn.co.id Email : kcs.padang@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Bandar Lampung Sharia Branch Office Lhokseumawe Sharia Branch Office
Jl. Kartini No 85, Kelurahan Palapa, Kecamatan Tanjung Jl. Merdeka No. 2 Lhokseumawe Kecamatan Banda Sakti
Karang Pusat, Kota Bandar Lampung 35116 Kota Lhokseumawe 24300
Telp : (0751)- 6025555 Telp : (0645)40305
Email : kcs.bandarlampung@btn.co.id Email : kcs.lhokseumawe@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
PT Bank Tabungan Negara (Persero) Tbk 93
Page 96
Company
Profile
SHARIA BRANCH OFFICE (SULAWESI, MALUKU, PAPUA REGIONAL OFFICE)
Makassar Sharia Branch Office Kendari Sharia Branch Office
Jl. A.P Pettarani No 21, Tamamaung, Kecamatan Jl. MT Haryono No. 78 Kel. Bende, Kec. Baruga – Kota Kendari
Panakkukang, Kota Makassar 90231 Telp : (0401) 3092284
Telp : (0411) 3613399 Email : kcs.kendari@btn.co.id
Email : kcs.makassar@btn.co.id Web : www.btn.co.id
Web : www.btn.co.id
Palu Sharia Branch Office
Jl. Emmy Saelan No. 36, Kel. Tatura Utara, Kec. Palu Selatan, Kota Palu 94236
Telp : (0451) - 485431
Email : kcs.palu@btn.co.id
Web : www.btn.co.id
SHARIA BRANCH OFFICE (KALIMANTAN REGIONAL OFFICE)
Balikpapan Sharia Branch Office Banjarmasin Sharia Branch Office
Jl. Jenderal Sudirman Jl. Jend Ahmad Yani KM 5,5 No. 456 Kel. Pemurus Luar, Kec.
No. 565 – 566 Balikpapan 76114 Banjarmasin Timur Kota Banjarmasin - Kalimantan Selatan
Telp : (0542) 742260, 742258 Telp : (0511) 3250530, 3250540, 3250560
Email : kcs.balikpapan@btn.co.id Email : kcs.banjarmasin@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Pontianak Sharia Branch Office
Jl. Jend Ahmad Yani No 61 G-H, Kelurahan Bangka Belitung Laut, Kecamatan Pontianak Tenggara, Kota Pontianak
Telp : (0561) - 8171285
Email : kcs.pontianak@btn.co.id
Web : www.btn.co.id
SHARIA BRANCH OFFICE (CENTRAL JAVA & DIY REGIONAL OFFICE)
Yogyakarta Sharia Branch Office Solo Sharia Branch Office
Jl. Faridan M Noto No. 10, Kota Baru Gondokusuman Jl. Brigjen Slamet Riyadi
Yogyakarta 55224 No. 332 Solo 57141
Telp : (0274) 551055, 512467 Telp : (0271) 712127, 7008978, 7008947
Email : kcs.yogyakarta@btn.co.id Email : kcs.solo@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
Tegal Sharia Branch Office Semarang Sharia Branch Office
Jl. Jenderal Sudirman No. 02 , Kel. Pekauman, Jl. Achmad Yani No. 181 Kel. Wonodri
Kec. Tegal Barat, Kota Tegal - Jawa Tengah 52113 Kec. Semarang Selatan, Kota Semarang
Telp : (0283) 342923 ,342933 Telp : (024) 8449918, 8449919
Email : kcs.tegal@btn.co.id Email : kcs.semarang@btn.co.id
Web : www.btn.co.id Web : www.btn.co.id
94 PT Bank Tabungan Negara (Persero) Tbk
Page 97
2024
Annual Report
Business Partner
Network
The Company always cooperates with various business and convenience of transactions carried out by the
partners, purposed of achieving the set targets. The customers. The cooperation carried out by the Company
Company also runs various business partnerships with business partners include the following:
in the context of providing banking product services
Group/Company Description
PT Asuransi Jiwa IFG Bancassurance Partners – Life Insurance
PT MSIG Life Tbk Bancassurance Partners – Telemarketing
PT Binagriya Upakara Bancassurance Partners – General Insurance
PT Bahana TCW Investment Management Investment Manager Partners
PT Trimegah Asset Management Investment Manager Partners
PT Manulife Aset Manajemen Indonesia Investment Manager Partners
PT Schroder Investment Management Indonesia Investment Manager Partners
PT Danareksa Investment Management Investment Manager Partners
PT Batavia Prosperindo Aset Manajemen Investment Manager Partners
PT Insight Investments Management Investment Manager Partners
PT Mandiri Manajemen Investasi Investment Manager Partners
PT Sucorinvest Asset Management Investment Manager Partners
PT Syailendra Capital Investment Manager Partners
Centralized Management of Funds for Electricity Bill and Non-Electricity
PT PLN (Persero)
Bill Payment Systems
• Protection, Processing and Provision of Data Access to Centralized
Electricity Bill Payment System
PT Indonesia Comnets Plus
• Payment Receipt Through BTN Virtual Account Host to Host on PLN
Mobile Application
PT XL Axiata Tbk Utilization of BTN Banking Services for XL Product Distribution
PT Telekomunikasi Seluler Tbk Distribution and Sales Cooperation Agreement for Telkomsel Products
PT Indosat Tbk Purchase and Payment of Indosat Products
PT Bank Negara Indonesia Tbk Acceptance of Tapcash Top Up services via BTN channels
PT Bank Mandiri Indonesia Tbk Implementation of Mandiri e-Money Top Up on BTN e-Channel
PT Bank Central Asia Tbk Top Up Flazz
PT Dompet Anak Bangsa Top Up Gopay
Badan Amil Zakat (BAZNAS) Use of E-Channel Services in Accepting Zakat, Infak & Qurban Payments
PT Pegadaian Payment of Pegadaian Products via BTN E-Channel
• Cardless Withdrawal Services
PT Fintek Karya Nusantara • Provision of LinkAja Balance Top Up Services
• Provision of LinkAja Balance Transfer Services
PT Bank Tabungan Negara (Persero) Tbk 95
Page 98
Company
Profile
Group/Company Description
• Web View BTN Properti & New Mobile Banking
IFG Life
• Open API Banking Services
Provision of BTN Virtual Account Facilities as a Payment Method on the
PT Tokopedia
Tokopedia Platform
• Open API Banking Services
PT Adhi Persada Properti
• Digital Banking Ecosystem Services
PT Dwi Daya World Wide Transactional Business Cooperation (Edc and Qris BTN)
• EDC Terminal Services
PT Mitra Transaksi Indonesia • Host to Host Services Direct Debit Payment Acceptance BTN
• Partner Operational Support EDC
PT Pertamina Retail PKS Utilization of Bright Payment Point for EDC
PT Cashlez Worldwide Indonesia Tbk EDC & VA Cooperation
PT Kimia Farma Provision of Electronic Data Capture (EDC) Devices
PT Sumber Alfaria Trijaya Tbk Himbara EDC Merchant
PT Indomarco Prismatama EDC Sharing Indomaret
PT Aviasi Pariwisata Indonesia (Persero) & Grup Usaha
(PT Angkasa Pura Indonesia & PT Pengembangan Corporate Credit & Fund Management
Pariwisata Indonesia (ITDC))
PT Perusahaan Listrik Negara (Persero) Corporate Credit & Fund Management
PT Pertamina (Persero) dan Grup Usahanya (
Pertamina EP, Pertamina Hulu Energi, Pertamina Hulu Corporate Credit & Fund Management
Indonesia dan lainnya)
PT Wijaya Karya (Persero) Tbk dan Grup Usahanya
(WIKA Realty, WIKA Gedung, WIKA Industri dan Corporate Credit & Fund Management
Konstruksi)
Corporate Credit & Fund Management and Developers supporting the
Perum Perumnas
provision of housing units for millennials
PT PP (Persero) Tbk dan Grup Usahanya (PP Properti,
Corporate Credit & Fund Management
PP Urban dan lainnya)
PT Adhi Karya (Persero) Tbk dan Grup Usahanya (Adhi Corporate Credit & Fund Management and Developers supporting the
Commuter Properti dan Adhi Persada Properti) provision of housing units for millennials
APP Indonesia ( PT Indah Kiat Pulp & Paper, PT OKI Pulp
Corporate Credit & Fund Management
& Paper dan PT Pindo Deli Pulp & Paper)
PT Waskita Karya Realty Corporate Credit & Fund Management
Sinarmas Land Ltd ( PT Bumi Serpong Damai Tbk & Eka
Corporate Credit & Fund Management
Hospital)
PT Perusahaan Listrik Negara (Persero) Corporate Credit & Fund Management
BULOG Corporate Credit & Fund Management
DANAREKSA (PT Nindya Karya & PT PPA) Corporate Credit & Fund Management
PT Jasamarga Bali Toll Corporate Credit & Fund Management
Agung Podomoro Land Group (PT Astakona Megahtama,
Corporate Credit & Fund Management
PT Arah Sejahtera Abadi dan grup usaha lainnya)
Ciputra Residence Corporate Credit & Fund Management
PT Alam Sutera Realty Corporate Credit & Fund Management
PT LEN Industri Corporate Credit & Fund Management
96 PT Bank Tabungan Negara (Persero) Tbk
Page 99
2024
Annual Report
Group/Company Description
Salim Group
Corporate Credit & Fund Management
( PT Indomarco Prismatama & PT Air Bersih Jakarta)
PT Rajawali Nusantara Indonesia (Persero) Corporate Credit & Fund Management
Medco Power Indonesia Corporate Credit & Fund Management
PT Yodya Karya Corporate Credit & Fund Management
PT Virama Karya Corporate Credit & Fund Management
PT Pupuk Sriwidjaja Palembang Corporate Credit & Fund Management
PT Lippo Cikarang Corporate Credit & Fund Management
Perum Perhutani Corporate Credit & Fund Management
PT Barito Pacific Corporate Credit & Fund Management
PT Golden Blossom Sumatra (Bomba Group) Corporate Credit & Fund Management
PT Brantas Abipraya Corporate Credit & Fund Management
PT Hutama Karya (Persero) Non Cash Loan Credit
PT Bandung Indah Permai Corporate Credit & Fund Management
BPKH Banks Receiving Hajj Deposits
Kemenag Banks Receiving Hajj Pilgrimage
Badan Pengelola Tabungan Perumahan Rakyat
KPR
(BP Tapera)
Kementerian Pekerjaan Umum dan Perumahan
Management of Funds and KPR
(Kementerian PUPR)
Satuan Kerja Direktorat Jenderal Pembiayaan
Infrastruktur Pekerjaan Umum dan Perumahan
Distribution of Housing Down Payment Assistance Subsidies
Kementerian Pekerjaan Umum dan Perumahan
(Satker PUPR)
PT Jamkrindo Syariah Financing Insurance Guarantee
PT Askrindo Syariah Financing Insurance Guarantee
PT Jasindo Syariah Financing Insurance Guarantee
PT Sarana Multigriya Finansial (Persero) Mortgage Securitization, Refinancing Loans and FLPP Loans
Management of Work Unit Accounts and Public Service Agencies and
Kementerian Keuangan Republik Indonesia
Domestic Loans
Kementerian Agama Republik Indonesia Cooperation Related to Hajj
Kementerian Pendidikan, Kebudayaan, Riset dan
Distribution of Smart Indonesia Card Funds
Teknologi Republik Indonesia
Badan Pengelola Keuangan Haji Management of Hajj Funds
Badan Penyelenggara Jaminan Produk Halal Fund management
Badan Pengelola Dana Lingkungan Hidup Fund management
Badan Pengelola Tabungan Perumahan Rakyat Fund management
Lembaga Pengelola Dana Pendidikan Fund management
Lembaga Pengelola Modal Usaha Kelautan dan
Fund management
Perikanan
PT Hutama Karya (Persero) Fund Management and Non Cash Loan Credit
PT Bank Tabungan Negara (Persero) Tbk 97
Page 100
Company
Profile
Group/Company Description
PT Rajawali Nusantara Indonesia (Persero) Fund management
PT Permodalan Nasional Madani (Persero) Fund management
PT Jaminan Kredit Indonesia Fund management
PT Jamkrindo Syariah Fund management
PT Reasuransi Indonesia Utama Fund management
PT Penjaminan Infrastruktur Indonesia Fund management
PT Sarana Multigriya Finansial (Persero) Fund management
PT Perusahan Gas Negara Tbk Fund management
PT Ciputra Nusantara Fund management
PT Indonesia Kendaraan Terminal Tbk Fund management
PT Medco Power Indonesia Fund management
PT BFI Finance Indonesia Tbk Fund management
Dana Pensiun Lembaga Keuangan Bank Negara
Fund management
Indonesia
Dana Pensiun Lembaga Keuangan Bank Rakyat
Fund management
Indonesia
Dana Pensiun Lembaga Keuangan Tugu Mandiri Fund management
Perusahaan Asuransi Allianz Fund management
Manulife Indonesia Fund management
Sun Life Financial Fund management/Bancassurance
Yayasan Kesejahteraan Pegawai Otoritas Jasa
Fund management
Keuangan
PT Pabrik Gula Rajawali I, Grup Usaha dari PT Rajawali
BTN iB Working Capital Financing
Nusantara Indonesia (Persero)
PT Industri Kereta Api “INKA” (Persero) BTN iB Contractor Working Capital Financing
BPJS Kesehatan Participant contribution receipt
BPJS Ketenagakerjaan Participant contribution receipt
Bakti Kominfo BTS Rental Receipt
PDAM Tirtawening Water Bill Contribution Receipt
PDAM Malang Water Bill Contribution Receipt
PDAM Bekasi Water Bill Contribution Receipt
PDAM Kota Samarinda Water Bill Contribution Receipt
98 PT Bank Tabungan Negara (Persero) Tbk
Page 101
2024
Annual Report
Company
Brand
Not just a logo, but a vision that describes BTN as a progressive financial pillar. The Company has a
commitment to make BTN a place that describes the dreams and aspirations of every customer, forming
a “home ecosystem” that provides comfort through integrated digital services. The Company also has
a commitment to Facilitating home financing transactions and daily needs, so that every step of life is
decorated with unforgettable warmth and ease.
Symbol of a progressive Vision
The line that stretches across the BTN logo symbolizes a progressive bank
that continues to innovate as a financial institution. Establishing itself that
BTN is not only a bank that focuses on home financing but more than that,
offering financial solutions for customers through the financial ecosystem
owned by BTN.
Optimistic Construction
This font is designed with a strong and dynamic style to show BTN as
modern and relevant to the times. The use of lowercase letters in the
BTN logo reflects a bank that is friendly and approaches customers,
understands their needs, and is active in helping them achieve their life
goals. BTN hopes to be a home for customers, where the journey of life
begins.
PT Bank Tabungan Negara (Persero) Tbk 99
Page 102
Company
Profile
Brief History
of the Company
Established under the name of Postspaarbank in 1897 under the Dutch East Indies government, then
renamed to Tyokin Kyoku or Kantor Tabungan in 1942 during the Japanese government. The Company
was changed into Kantor Taboengan Pos in 1945 during the independence period of the Republic
of Indonesia. In the postindependence era, in 1950 to be precise the Government of the Republic of
Indonesia changed the name Tyokin Kyoku to Bank Savings Post based on Emergency Law no. 9 of
1950 dated February 9, 1950 and later based on Government Regulation in Lieu of Law No. 4 of 1963
changed its name to Bank Tabungan Negara in 1963 until now.
In 1974, the Government appointed the Company as the No. 73 dated September 11, 1992 Supplement No. 6A.
only institution that disbursed Housing Loans (KPR), in In 1994, based on the Decree of the Board of Directors
line with the Government Program which was promoting of Bank Indonesia No. 27/55/KEP/DIR September 23,
housing programs for the people. In 1976, the Company 1994, the Company obtained an operating license as a
made its first realization at Tanah Mas Housing, Foreign Exchange Bank and subsequently the Company
Semarang City. On April 29, 1989, the Bank started was appointed as a commercial bank focusing on home
operating as a state-owned commercial bank. Based financing in 2002. The Company obtained approval
on Government Regulation no. 24 of 1992, the status of from Bank Indonesia to carry out general banking
the Bank was changed to a state-owned limited liability activities based on sharia principles by letter No. 6/1350/
company (Persero). Deed of establishment of the Bank DPbS dated December 15, 2004. The Company started
as a Persero made before Notary Muhani Salim, S.H., its activities based on sharia principles on February
No. 136 dated July 31, 1992 and had been ratified by the 14, 2005 with the operation of the first sharia branch in
Minister of Justice with Decree No. C2-6587.HT.01.01.TH.92 Jakarta - Harmoni.
dated August 12, 1992 and announced in State Gazette
100 PT Bank Tabungan Negara (Persero) Tbk
Page 103
2024
Annual Report
In 2009, the Company carried out the first KPR information, conducting communications, transactions,
securitization in Indonesia. The Company conducted registration and opening accounts.
asset securitization by recording Collective Investment
Contract - Asset Backed Securities (KIK-EBA) In 2019, the Company became a Housing Market Maker
transactions, then on December 17, 2009 conducted an and strengthened its position as the 5th Largest Bank.
Initial Public Offering (IPO) and Listing on the Indonesia Furthermore, 2022 became an important year because it
Stock Exchange. was the second time the Company held a Rights Issue or
issued new shares after 2012. The Rights Issue is intended
In 2015, the Company played an important role in to be one of the Company’s efforts to increase loans
assisting the Government Program “One Million Houses expansion while simultaneously strengthening capital
for the People Program”. The company was appointed to oversee the Company’s mission to become The Best
as one of the banks supporting government programs Mortgage Bank in Southeast Asia by 2025. In 2023, as a
through mortgage financing. In 2017, the journey of the form of digital banking transformation, the Company
Company’s digital banking transformation process released BTN Mobile, an application to support banking
continued. From a business perspective, the Company services via mobile phone replacing BTN Mobile Banking.
continued to improve banking services by accelerating
the stages of transformation in the digital era, one of On March 3, 2024, the Company conducted a
which was by opening a Smart Branch. The Company’s “rebranding” by launching a new logo. The new logo
Smart Branch was equipped with a variety of services that was released is a symbol of the Company’s success
to facilitate customer needs in obtaining banking and commitment in continuing its transformation into a
more modern and adaptive Bank in facing digitalization.
Description of Name Change
Bank BTN has endured a long journey to become what it is today. From Bank Tabungan Pos in 1950, the Company now
becomes PT Bank Tabungan Negara (Persero) Tbk.
1897 - 1950 1950 1963 2009 – Present
Established under the On February 9, 1950, On June 22, 1963, On December 17,
name of Postspaarbank the Indonesian the Company was 2009, the Company
in 1897 under the Dutch Government changed inaugurated as Bank performed its Initial
East Indies government, the Company’s name Tabungan Negara. Public Offering (IPO)
then renamed to to Bank Tabungan Po at the Indonesia
Tyokin Kyoku or Kantor Stock Exchange. The
Tabungan in 1942 Company became a
during the Japanese public limited liability
government. The company under the
Company was changed name of PT Bank
into Kantor Taboengan Tabungan Negara
Pos in 1945 during the (Persero) Tbk.
independence period
of the Republic of
Indonesia.
PT Bank Tabungan Negara (Persero) Tbk 101
Page 104
Company
Profile
Company Vision,
Mission, Values and Culture
VISION
“To become
the Best Mortgage Bank
in Southeast Asia by 2025.”
REVIEW OF COMPANY VISION
AND MISSION BY THE
BOARD OF COMMISSIONERS
AND THE BOARD OF DIRECTORS
102 PT Bank Tabungan Negara (Persero) Tbk
Page 105
2024
Annual Report
MISSION
Actively supporting the government Increasing shareholder value
1 4
in advancing the welfare of the by focusing on sustainable
Indonesian people through profitability growth as a blue chip
home ownership. company with strong risk
management principles.
Realizing the life that millions
2
of Indonesians dream of by Becoming a financial partner for
5
providing decent housing the stakeholders in the housing
ecosystem by providing comprehensive
solutions and the best services through
Becoming One of Home digital innovations.
3
of Indonesia’s Best Talent
The Vision and Mission are periodically reviewed by considering changes in external and internal environmental conditions. In order
to ensure the suitability of the Company’s Vision and Mission, the Board of Commissioners and Board of Directors continuously review
the Vision and Mission. In 2024, adjustments were made to the Company’s Vision and Mission in accordance with changes in the
Company’s external and internal environmental conditions. The new Vision and Mission of the Company have been approved by the
Board of Commissioners and Board of Directors in the Approval of the Company’s Long-Term Plan (RJPP) for 2025-2029 and will be
effective in 2025. The Company’s Vision and Mission for 2025-2029 are as follows:
Vision : Main Partner in Financial Empowerment of Indonesian Families
Mission : 1. To be the Government’s main partner in housing and financial inclusion
2. To provide customer experience through integrated digital and financial services.
3 To increase shareholder value with sustainable profitability growth.
4. To be a home for Indonesia’s best talents.
5. To implement good corporate governance practices and sustainable business innovation for community welfare and
environmental sustainability.
PT Bank Tabungan Negara (Persero) Tbk 103
Page 106
Company
Profile
Corporate Culture
The Company is aware of the importance
of corporate cultural application which can
significantly boost the Company’s performance.
Trust Competent
The corporate culture has been modified for
Upholding Continuously learning
several times to ensure its relevance with the
the trust and developing
constantly changing external environment and given. capabilities
business ecosystem that go along with the current
development and technological advancement. Amanah value Competent value
Company is currently consistently and sustainably behavior guide: behavior guide:
implementing the Core Values of AKHLAK (moral) as • Fulfilling promises and • Improving competence
commitments. to answer to ever-
the foundation of corporate culture.
• Responsible for duties, changing challenges.
decisions and actions • Helping others to learn.
This foundation is manifested in the behavior of taken. • Finishing duties with the
BTN people or BTNers in carrying out work activities, • Adhering to moral and best quality.
which consists of: ethical values.
Corporate Culture Framework
The Corporate Culture Framework provides an overview for BTNers in understanding and implementing the Core
Values of AKHLAK. To strengthen the implementation of the core values of AKHLAK consistently and sustainably, BTN
has set 4 (four) pillars of culture as behavioral guidelines in achieving the company’s vision and mission which are
actualized as the implementation of cultural programs in all work units in Company.
“To Become The Best Mortgage 8 Key Behaviors
Bank in Southeast Asia by 2025”
Strategic Focus for 2021-2025 Adhering to and
1 comply moral values
Strategic Themes for 2021-2025 and business ethics,
fulfilling commitments
4 Pillars of Culture in accordance with
applicable regulations
Sales & Service Governance & Performance Learning
Culture Risk Culture Culture Culture Keep learning, make
2 intrapreneurship
Increase improvements to
Growth and Clean and Outstanding increase your own and
Keep learning
Meet Customer Trusted Performance others’ competence.
Expectations
Main Program and Elective Program
Disciplined, consistent,
Critical Few Behavior
3 and thorough in
completing tasks
S
with the best
3 6 7
quality results G P
Disciplined, consistent,
and thorough in Proactive, effective and Respond quickly to change
efficient in meeting and provide opportunities
completing tasks with the
customer needs for continuous improvement.
4 Respect, appreciate and
best quality results be open to differences
Symbolic Actions of the Leader
8 Key Behaviors of BTNers Critical Few Behaviors
104 PT Bank Tabungan Negara (Persero) Tbk
Page 107
2024
Annual Report
Harmonious Loyal Adaptive Collaborative
Caring for Dedicated and Continuously innovating Building
each other and prioritizing the interests and enthusiastic in driving synergistic
respecting differences of the nation and state or facing change. cooperation
Harmonious value Loyal value Adaptive Values Collaborative values
behavior guide: behavior guide: Behavior Guide: behavior guide:
• Respecting others • Maintaining the honor • Easily adaptable to • Providing opportunity
regardless of their of fellow employees, bettering self. for other parties to
background. leaders, SOEs and • Make continuous contribute.
• Helpful to others. Country. improvements to keep • Open to cooperation that
• Building favorable work • Willing to sacrifice for the up with technological delivers added value.
environment. greater good. development. • Encouraging the
• Obeying leaders as long • Being proactive. utilization of various
as in compliance with resources for common
the laws and ethics. goals.
As an acceleration of the implementation of culture in encouraging
performance achievement, company formed a Change Agent Team which
acts as a catalyst in forming a productive and superior work culture through
cultural programs that are in line with daily work activities so that they have an
impact on the formation of employee behavior.
The Change Agent Team has a role in planning, developing, monitoring,
evaluating, ensuring and improving the effectiveness of the implementation
of corporate culture programs in each work unit, whether at the Head Office,
Regional Office or Branch Office and Sharia Branch Office.
Responsible and always
5 put the company’s
interests first
Providing strategic direction, evaluating the
Champion effectiveness of cultural management at
Proactive, effective company and resolving strategic issues.
6 and efficient
in meeting
S G
customer needs
Ensuring the effectiveness of cultural
Culture Specialist programs, monitoring and evaluating the
Respond quickly implementation of cultural programs.
7 to change and provide
opportunities S G
for continuous
P L Act as a role model and coach for Change
improvement. Change Leader
Agents and BTNers in internalizing culture.
Open to collaboration
8 that generates growing
Responsible for internalizing culture and
value
Change Agent bridging communication between Change
Leaders and BTNers.
S Sales & Service Culture
G Governance & Risk Culture Supporting the internalization of culture by
P Performance Culture
BTNers actively participating in the implementation
of cultural programs in work units.
L Learning Culture
PT Bank Tabungan Negara (Persero) Tbk 105
Page 108
Company
Profile
Business
Activities
Business Activities According to the Articles
of Association and Business Activities Conducted
The Company carries out business in the banking sector and optimizing the use of resources owned by the company
to produce high quality and highly competitive services to achieve profits to increase the value of the company by
implementing the principles of a limited liability company in accordance with Article 3 of the Articles of Association
based on the Deed of Decree of the Annual General Meeting of Shareholders Number 08 dated March 6, 2024 made
by Ashoya Ratam, S.H., M.Kn., Notary in South Jakarta which has received approval based on the Decree of the Minister
of Law and Human Rights No. AHU-0022194.AH.01.02.YEAR 2024 dated April 5, 2024. Based on the Articles of Association,
the Company carries out its main activities as follows:
Main Business Activities
1. Collecting funds from the public in the form of 11. Conducting temporary capital participation activities
savings, current accounts, time deposits, certificates outside financial service institutions to overcome the
of deposit, and/or other forms that are similar to consequences of credit failure or financing based
those; on sharia principles, with the condition that the
2. Distributing funds in the form of credit or financing participation must be withdrawn;
based on sharia principles; 12. Acting as the founder of a pension fund and manager
3. Carrying out activities in the field of payment of a pension fund in accordance with the provisions
systems; of laws and regulations regarding pension funds;
4. Placing funds in other banks, borrowing funds from 13. Conducting financial service activities, investment
other banks, or lending funds to other banks, either banking and other commercial banking in
by using letters, telecommunications facilities or with accordance with the provisions of laws and
bearer drafts, checks, or other facilities; regulations;
5. Issuing and/or carrying out securities transactions 14. Conducting business activities based on Sharia
for the benefit of the Company and/or customers; Principles, in accordance with the provisions
6. Providing a place to store goods and securities; stipulated by the OJK and the provisions of laws and
7. Carrying out business activities in foreign currency; regulations;
8. Carrying out receivables transfer activities; 15. Cooperating with other financial service institutions
9. Carrying out storage activities for goods and and cooperation with other than financial service
securities; institutions in providing financial services to
10. Conducting capital participation activities in customers;
financial service institutions and/or other supporting 16. Conducting other activities with the approval of the
companies. OJK.
Supporting Business Activities
1. Optimizing the use of existing resources to support the Company’s main business activities as long as they do not
conflict with the provisions of laws and regulations.
All business activities according to the Articles of Association have been carried out by the Company.
106 PT Bank Tabungan Negara (Persero) Tbk
Page 109
2024
Annual Report
Products and Services
The products and services developed by the company belong to 2 (two) segments, i.e. conventional and sharia
segments, with the following explanation.
PRODUCTS
Consumer products Commercial products
Consumer Loan Products: Commercial Loan Products:
• Housing Loan • Property Working Capital Loan
• Non Housing Loan • Contractor Working Capital Loans
• Linkage Loans
• Savings Backed Loans
Consumer Saving Products: • Investment Loan
• Consumer Savings
• Deposito BTN Ritel
• Individual current account
Commercial Savings Products:
• Time Deposit for Institutions
CONVENTIONAL • Commercial Demand Deposits
Wealth Management Products:
BANKING
• Bancassurance
• Mutual Funds
• Primary Market Retail
Government Securities Corporate Credit Products:
• Secondary Market Government • Capital Working Loans
Securities - KMK Construction
• Foreign Exchange - KMK Contractor
- Bridging Loan
- KMK Backed by Savings (Self-
Funding)
• Investment Credit
- Refinancing
• Credit to Ministries/Government
Institutions of the Republic of
Indonesia
• Term Loan Facility
• Corporate Line Facility
• Treasury Line Facility (to Non-
Sharia Products
Financial Institutions)
• Supply Chain Financing (SCF)
• Trust Receipt
Sharia Financing Products: • Letter of Credit (L/C) or Domestic
• Consumer Financing Documented Credit Letter
• Commercial Financing (SKBDN)
• Bank Guarantee (Bank
Guarantee)
Sharia Savings Products: - Local Bank Guarantee
SHARIA - Standby Letter of Credit
• Sharia Demand Deposits
BANKING • Sharia Savings
- Demand Guarantee
- Bank Support Letter (SKDB)
• Sharia Time Deposits • Documentary Collection
107 PT Bank Tabungan Negara (Persero) Tbk PT Bank Tabungan Negara (Persero) Tbk 107
Page 110
Company
Profile
SERVICES
Electronic
Electronic channel ATM
Data Capture (EDC)
BTN Cash Management BTN Priority Services
Virtual Account PLUS by BTN Priority
Visa/GPN Debit Card
Branchless Banking
& Online Debt
Internet Banking BTN Smart Residence
CONVENTIONAL
Online Onboarding
BANKING BTN Property Portal
Open Account
Mobile Banking SMS Notification
SKBDN CRM
Other Banking Services
Bank Guarantee
and Services
Sharia Visa/GPN Debit
Safe Deposit Box BTN iB
Card & Online Debit
BTN iB Bank Guarantee BTN iB Payroll
BTN iB Operational
BTN Cash Management
Development Program
SHARIA BANKING/ BTN iB Online SPP Virtual Accounts
SHARIA BUSINESS
UNIT
Hajj Travel Online Onboarding for
Expense Receipt Open Account
Mobile Banking Bancassurance
108 PT Bank Tabungan Negara (Persero) Tbk PT Bank Tabungan Negara (Persero) Tbk 108
Page 111
2024
Annual Report
Product Variety
Conventional Banking
Consumer Banking
Consumer Loan Products
1. Housing Loans
a. BTN Subsidized KPR • KPR Tapera
Home Ownership Program in collaboration with Loanfacilities from banks for MBR who are
the Ministry of Public Works and Public Housing Tapera participants which are intended for
(Kemen PUPR) and the Public Housing Savings Ownership of Public Landed Houses or Public
Management Agency (BP Tapera) which is Flats with Tapera Financing support. The
aimed at Low-Income Communities (MBR) with target group for BTN Tapera KPR Products are
attractive interest rates and low installments in civil servants with a maximum participant
the form of Landed Houses and General Flats. income of IDR8,000,000.00 with beneficiary
• KPR BTN Sejahtera features including 5% interest rate, maximum
Housing Financing Liquidity Facility (FLPP) loan term of 30 years and 0% down payment.
support from the Government in the form of • KBR Tapera
Landed Public Housing or Public Flats Units The facility is intended for Participants who do
intended for MBR with formal or informal jobs not yet have a house and will build a house
with certain income limits in accordance with on a mature land plot. The target group for
laws and regulations. the KBR BTN Tapera Product is Civil Servants
with a maximum participant income of
The facilities/benefits obtained by applicants IDR8,000,000.00 with beneficiary features
are an interest rate of 5% per year, a maximum including 5% interest rate, maximum loan
subsidy period of 20 years and a maximum period of 20 years and 0% down payment.
loan period of 20 years and a down payment • KRR Tapera
assistance subsidy feature for applicants. The facility is intended for Participants who
will make their first Home Improvement, the
Loan to Value for BTN Sejahtera FLPP target group for the BTN Tapera KRR Product
mortgage products is the maximum selling is Civil Servants with a maximum participant
price according to each region minus the income of IDR8,000,000.00 with benefits
applicant’s personal down payment and including 5% interest rate, maximum loan
minus the down payment assistance subsidy term of 10 years and 0% down payment.
from the government.
b. Non-Subsidized KPR Home Ownership Loan for middle to upper segment customers. Non-subsidized KPR
services consist of KPR BTN Platinum, KPA BTN and KP Ruko products.
- KPR BTN Platinum: Home ownership loans meet the needs of purchasing a house or
for purchasing a home from a developer apartment for prospective debtors from the
or nondeveloper, whether for purchasing millennial generation segment (21-35 years)
a new or secondhand home, purchasing a with various conveniences and advantages.
home ready to live in (ready stock) or not yet - Athlete KPR Special program for BTN Platinum
finished (indent), or taking over loans from KPR/ KPA products intended for athletes,
another bank. club officials/ management, coaches and
- KPR Gaess GPM: Is a feature development referees, as well as administrators of the
of the BTN Platinum KPR/KPA product to Indonesian Football Association (PSSI).
PT Bank Tabungan Negara (Persero) Tbk 109
Page 112
Company
Profile
c. BTN Apartment Ownership Credit (KPA BTN) b. Kredit Ringan BTN (Kring BTN)
for purchasing apartment from developer or Loan facilities intended for employees of
non-developer, either for new or secondhand companies/ agencies to fulfill their various needs
apartment, ready stock apartment, apartment without collateral, it is enough to just use the
in construction (indent), or loan takeover from applicant’s Employee Decree.
another bank. c. Kredit Ringan BTN Pra Pensiun (Kring BTN Pra
d. BTN Shophouse Ownership Loan (KP Ruko BTN) to Pensiun)
buy a shophouse or office house unit. A loan facility for potential debtors/debtors
e. Other Housing Loans whereas the repayment is sourced from fixed
- Kredit Agunan Rumah (KAR): A loan facility income (salary and retirement funds) whose
for various consumer needs using house/ fund has or has not been distributed via bank,
apartment/ shophouse/office house as for consumptive use. The period for this financing
collateral. facility may overlap the debtor’s retirement
- Kredit Bangun Rumah BTN Loans facility for period.
those who want to build a house on their own d. Kredit Ringan BTN Pensiunan (Kring BTN
land. Pensiunan)
- BPJS Employment Additional Service Benefits: A loan facility for retired Civil Servants, retired
Housing down payment loan as a members of Indonesian National Army/ Police,
down payment loan facility for BPJS or their widows/widowers whose retirement
Ketenagakerjaan participants who apply benefits are distributed via an account with Bank
for Bank BTN mortgage. BTN.
House Renovation Loan as a loan e. Kredit Swadana BTN
facility for House renovation for BPJS A loan facility for customers using savings or
Ketenagakerjaan participants. deposits kept with Bank BTN with the maximum
2. Non-Housing Loans loan of 90% of the amount of fund deposited
a. Consumer segment Non-Housing Loan by the customer. This facility has competitive
One of Bank BTN’s consumer segment non- interest rate, quick and easy process, very flexible
housing loans is consumer loan. Non-Housing time span of up to 1 year and renewable.
loan in the consumer segment includes BTN Light f. Kredit Sejahtera Pegawai
Loan (Kring BTN), PreRetirement Light Loan (Kring A soft loan facility for employees who meet
BTN Pra Pensiunan), Pension Light Loan (Kring certain requirements.
BTN Pensiunan), Self-funding Loan and Employee
Prosperity Loan.
Consumer Savings Products
1. Consumer Savings
• Batara Savings • e’BataraPos Savings
Transactional savings that provide easy and Savings in collaboration with PT Pos Indonesia
comfortable banking transactions for family (Persero) to provide convenience in banking
finances through the BTN channel. transactions through Post Office Counters
• Business Savings throughout Indonesia.
Business Savings provides features and services • Champion Savings
that facilitate various business needs with Savings for financial education and transactions
complete support for larger businesses. according to the needs of the young generation
• Investa Savings for ages 0-23 years.
Superior investment savings for various needs • Student Savings Account (SimPel)
with flexible withdrawals and deposits. Savings for students with easy and simple
requirements and attractive features, in the
context of financial education and inclusion to
encourage a culture of saving from an early age.
110 PT Bank Tabungan Negara (Persero) Tbk
Page 113
2024
Annual Report
• TabunganKu • BTN Felas Savings
Savings without administration fees for individual Savings used for saving, transacting and
customers initiated by the regulator as an effort investing in foreign currencies. Available in USD,
to foster a culture of saving in society. SGD, AUD, JPY, CNY, EUR and GBP.
• BTN Housing Savings 2. BTN Individual Deposits
Savings that are intended for people who want to BTN Individual Deposits provide the convenience of
buy their first home. term investment in IDRor foreign currencies (USD,
• Cermat Savings SGD) with competitive interest rates and a deposit
Card-based savings that provide easy access and withdrawal system at certain times. With
for low-income people and those who have opening through Offline Branch Offices and Online
not been touched by banking services through through BTN Mobile (eDeposito).
cooperation with Bank agencies. 3. BTN Individual Current Account
• Siap! Savings • Individual Current Account
Time deposit with free insurance benefits, where Types of deposits denominated in Rupiah and
customers routinely make mandatory monthly foreign currencies held by banks opened by
deposits in order to prepare funds for any future individuals whose withdrawals can be made
plans. at any time using checks, giro slips and other
• SiMuda RumahKu Savings withdrawal media.
Time deposit savings intended for students and • Joint Current Account
young people aged 18-30 years as a means of Accounts owned by more than one individual
education for planning home ownership from an account holder.
early age.
Wealth Management Products
A. Bancassurance • General Insurance
In offering bancassurance products, BTN collaborates General Insurance Products provide protection
with 3 (three) insurance partners, namely IFG Life (in- against the risk of financial losses that are
branch channel), MSIG Life (telemarketing channel), material (assets) or non-life. BTN collaborates
and Binagriya Upakara. with Mitra Asuransi Binagriya Upakara which can
• Traditional Life Insurance be obtained at the BTN Branch Office network.
Insurance that offers certainty of the main
insurance benefits, namely in the form of a Life b. Reksa Dana
Sum Assured (UP) that can be prepared to face The Bank as a Mutual Fund Selling Agent (APERD)
financial uncertainty in the future. BTN cooperates cooperates with 10 (ten) Investment Manager
with Sinarmas MSIG, Zurich Topas Life and IFG Life Partners in offering mutual fund products, both open-
in offering traditional life insurance products that ended mutual funds and protected mutual funds.
can be obtained at the BTN Branch Office network The Investment Manager Partners who cooperate
or can be offered through telemarketing. with the Bank are as follows:
• Unit Link Life Insurance(PAYDI) 1. PT Bahana TCW Investment Management
The Unit Link insurance product provides a Sum 2. PT Trimegah Asset Management
Assured benefit in the event of a risk and a cash 3. PT Manulife Aset Manajemen Indonesia
value benefit that can be obtained from the 4. PT Schroder Investment Management Indonesia
premium portion invested. BTN collaborates with 5. PT Danareksa Investment Management
Sinarmas MSIG Insurance Partners with the Smart 6. PT Batavia Prosperindo Aset Manajemen
Flexi Optima Link (Single Premium Unit Link) 7. PT Insight Investments Management
Product. 8. PT Mandiri Manajemen Investasi
9. PT Sucorinvest Asset Management
10. PT Syailendra Capital
PT Bank Tabungan Negara (Persero) Tbk 111
Page 114
Company
Profile
• Money Market Mutual Funds • Equity Mutual Funds
This type of mutual fund invests 100 percent of its It is a type of mutual fund that invests at least
managed funds in money market products such 80% of its assets in the form of equity securities.
as deposits and securities with maturities of less The goal is to grow the share or unit price in the
than 1 year. This Mutual Fund is suitable for novice long run. The risk is relatively higher than money
Investors with a conservative risk profile. Money market mutual funds and fixed income mutual
Market Mutual Fund Products include: funds, but they have the potential for the highest
- Bahana Mutual Fund Liquid Fund rate of return. Equity Mutual Fund Products
- TRIM Cash 2 Mutual Fund include:
- BRI Seruni Money Market II Mutual Fund - Bahana Mutual Fund Equity Fund Prima
- Mandiri Investa Money Market Mutual Fund - TRIM Mutual Fund Kapital Plus
- Sucorinvest Money Market Fund Mutual Fund - Manulife Mutual Fund Equity Fund Class A
- Mandiri Money Market USD Mutual Fund - Manulife Sharia Mutual Fund Sectoral
- Batavia Mutual Fund Cash Maksima Amanah Class A
• Fixed Income Mutual Funds - Danareksa Mutual Fund Mawar Konsumer 10
It is a type of mutual fund that invests at least - Schroder Mutual Fund 90 Plus Equity Fund
80% of its assets in the form of debt securities or - Schroder Mutual Fund Dana Prestasi
bonds. The goal is to generate a stable rate of - Schroder Mutual Fund Dana Prestasi Plus
return. The risk is relatively greater than money - Batavia Mutual Fund Equity Fund
market mutual funds. Fixed Income Mutual Fund - Manulife Mutual Fund Equity Sharia Asia
Products include: Pacific Dollar US
- Manulife Mutual Fund Monthly Income II - Batavia Mutual Fund Global ESG Sharia Equity
- Manulife Mutual Fund USD Fixed Income - Sucorinvest Mutual Fund Equity Fund
- TRIM Mutual Fund Fixed Fund 2 - Mandiri Mutual Fund FTSE Indonesia ESG –
- Trimegah Mutual Fund Fixed Income Plan Class A
- Batavia Mutual Fund Ultima Bond Fund - Syailendra Mutual Fund MSCI Indonesia Value
- Mandiri Mutual Fund Investa Dana Utama Index
- Reska Dana Bahana Fixed Income Makara - Batavia Mutual Fund Equity ESG Impact
Prima • Protected Mutual Funds
- Syailendra Fixed Income Premium Protected Mutual Funds, also known as Capital
• Mixed mutual funds Protected Fund (CPF), are a type of mutual fund
It is a type of mutual fund that allocates that provides protection for the initial investment
investment funds in a varied portfolio. The value, if the unit holder holds the mutual fund
investment instrument can be in the form of until the maturity date through an investment
stocks or combined with bonds. The goal is portfolio management mechanism. Periodically
price and revenue growth. The risk of mixed protected mutual funds also share investment
mutual funds is moderate with the potential for returns in the form of dividends. Protected Mutual
a relatively higher rate of return compared to Fund products include:
fixed income funds. Mixed Mutual Fund products - Protected Mutual Fund Sucorinvest Proteksi
include: 32
- Schroder Mutual Funds Combined Fund - Protected Mutual Fund Sucorinvest Proteksi
- Manulife Mutual Funds Mixed Fund II 42
- TRIM Mutual Funds Combined 2 - Protected Mutual Fund Trimegah Protected
- Batavia Mutual Funds USD Balanced Asia Futura 26
- Protected Mutual Fund Trimegah Protected
Prima 30
- Protected Mutual Fund Mandiri Series 215
112 PT Bank Tabungan Negara (Persero) Tbk
Page 115
2024
Annual Report
- Protected Mutual Fund Mandiri Series 218 • Sukuk Tabungan (ST)
- Protected Mutual Fund Mandiri Series 222 It is one of the retail SBSN instruments issued
- Protected Mutual Fund Sucorinvest Proteksi based on sharia principles and is intended for
44 individual investors who are Indonesian citizens.
- Protected Mutual Fund Trimegah Protected ST has the characteristics of providing floating
Futura 28 coupon rates with a floating floor and having
- Protected Mutual Fund Trimegah Protected early redemption facilities for investors. However,
Lestari 22 ST cannot be traded (nontradable) in the
- Protected Mutual Fund Insight Protected secondary market.
Proteksi 55 d. Secondary Market Government Securities
- Protected Mutual Fund Insight Protected Government Securities (SUN) issued by the
Proteksi 58 Government are sold on the Secondary Market and
- Protected Mutual Fund Trimegah Protected offer flexibility for investors, namely being able to
Prima 38 carry out buying and selling activities at any time
- Protected Mutual Fund Trimegah Protected (there is no offering period). The government, in
Letasi 30 this case as the issuer, guarantees the return of the
- Protected Mutual Fund Trimegah Protected principal amount at maturity plus a coupon which
Optima 2 will be paid periodically (According to Law No. 24 of
- Protected Mutual Fund Sucorinvest Protection 2002 concerning Government Bonds). Secondary
48 Market SBN is intended for institutional and retail
c. Retail Government Securities investors, both domestic and foreign.
Retail Government Securities (SBN Retail) are • Fixed Rate IDR (FR)
investment instruments in the form of government A series of Government Securities (SUN) or Bonds
bonds issued by the government of the Republic issued by the Government denominated in
of Indonesia intended for individual investors of Rupiah and sold on the Secondary Market within
Indonesian citizenship in the primary market. The a certain period (according to the tenor of the
government, in this case as the issuer, guarantees Bonds) with a fixed coupon. The government
the return of the principal amount at maturity plus a in this case will pay coupons regularly every 6
coupon which will be paid periodically (According to months (semester). FR is intended for institutional
Law No. 24 of 2002 concerning Government Bonds). and retail investors, both domestic and foreign.
Bank BTN is one of the Government’s distribution • Project Based SUKUK IDR (PBS)
partners in the distribution of Retail SBN. One of a series of Sharia Government Securities
• Obligasi Negara Ritel Indonesia (ORI) (SUN) or Sharia Bonds issued by the Government
It is one of the Retail SBN instruments intended in Rupiah denominations and sold on the
for individual investors of Indonesian Citizens in Secondary Market within a certain period of
the primary market. ORI has the characteristics of time (according to the tenor of the Bond) with
being tradable in the secondary market between a fixed coupon. In this case, the government will
domestic investors and the coupon rate is fixed pay coupons periodically every 6 (six) months
(fixed coupon). (semester). PBS is intended for institutional and
• Saving Bond Ritel (SBR) retail investors, both domestic and foreign.
It is one of the Retail SBN instruments intended • Fixed Rate USD (INDON)
for individual investors of Indonesian Citizens in A series of Government Securities (SUN) or
the primary market. SBR has the characteristics Bonds issued by the Government denominated
of providing a floating coupon rate with a floor in USD and sold on the Secondary Market within
(floating with floor) and has an early redemption a certain period (according to the tenor of the
facility for investors. However, SBR cannot be Bonds) with a fixed coupon. The government
traded (nontradable) in the secondary market. in this case will pay coupons regularly every
• Sukuk Ritel (SR) 6 months (semester). INDON is intended for
It is one of the retail SBSN instruments issued institutional and retail investors, both domestic
based on sharia principles and is intended for and foreign.
individual investors who are Indonesian citizens.
SR has characteristics that can be traded
(tradable) in the secondary market between
domestic investors and has a fixed rate of return
(fixed coupon).
PT Bank Tabungan Negara (Persero) Tbk 113
Page 116
Company
Profile
• Fixed Rate USD (INDOIS) available in USD, JPY, GBP, AUD, HKD, SGD, EUR, MYR,
A series of Government Securities (SUN) sharia SAR and CNY. The foreign exchange target market is
based by the Government denominated in individual/institutional customers who need foreign
USD and sold on the Secondary Market within exchange in the form of savings, transactional
a certain period (according to the tenor of the transfers or payments abroad as well as foreign
Bonds) with a fixed coupon. The government exchange trading needs. Foreign exchange services
in this case will pay coupons regularly every include Telegraphic Transfer (TT) Overbooking,
6 months (semester). INDOIS is intended for Outgoing and Incoming transaction services as well
institutional and retail investors, both domestic as Bank Notes transaction services. Apart from that,
and foreign. structured products are available including SWAP
e. Foreign Exchange Depo, DCI (Dual Currency Investment) Products and
Foreign exchange is a currency conversion service MLD (Market Linked Deposit) Products to increase
using current exchange rates with trading coverage investment options for Bank BTN customers.
throughout the world. Bank BTN forex services are
Commercial Banking
1. Commercial Loan Products
1) Housing Loans
• BTN Property Working Capital Credit (KMK • Micro and Small Business Funding Program
Property) (PUMK)
Working Capital Credit provided by the PUMK is a working capital financing loan
bank to the Developer for land acquisition program that aims to improve the capabilities
and financing of all project costs for of new micro and small businesses to become
horizontal buildings/landid houses located resilient and independent.
in a residential area, as long as based on the • BTN Micro Business Loan (KUR)
bank’s assessment it is feasible to be given Working capital and/or investment loan
credit. KMK Property is a development of provided to debtors engaged in business
previous products, namely KYG and KPL with a sectors that according to their scale have
disbursement scheme based on “Underlying the status of MSMEs in productive and
Documents” or documents used as the feasible business sectors but do not yet
basis/evidence by the debtor in making have additional collateral or the additional
transactions. collateral is not sufficient.
2) Non Housing Loans • BTN Linkage Loan
Bank BTN NonHousing Loans consist of MSME BTN Linkage Loan is a loan facility provided
Loan Products, other Commercial Loans, Linkage by the Bank to legal entities, namely People’s
Programs and Corporate Loans. MSME loans Loan Banks (BPR) and Cooperatives to be
include KUR BTN, KUMKM BTN and the Micro and loaned to the Small and Micro Business sector
Small Business Funding Program (PUMK). Other (productive) and the consumer sector.
Commercial Loans include Investment Loans,
KMK and Contractor KMK. The Linkage Program 2. Commercial Saving Product
includes loans to Rural Loan Banks and Savings a. BTN Institution Current Account
and Loans Cooperatives. Meanwhile, Corporate Types of deposits in Rupiah and Foreign Currency
Loans include Invesment Loans, Investments, held by Banks in which withdrawals can be made
Working Capital, Working Capital for Contractors at any time by using Checks, Bilyet Giro, Payment
and Syndicates. Orders, transfers and other withdrawal media.
• BTN Micro, Small and Medium Enterprises Institutional Current Account customers consist
(MSME) Loan of:
Working capital and/or investment financing • Government agencies/state institutions and
loan for customers who have productive social organizations that are not companies.
businesses with MSME criteria.
114 PT Bank Tabungan Negara (Persero) Tbk
Page 117
2024
Annual Report
• All legal entities regulated in the Commercial • BTN Contractor Working Capital Loan (KMK BTN
Code or other laws and regulations. Contractor)
• Limited Liability Company (PT), Foreign Kredit Modal Kerla BTN Kontraktor adalah kredit
Investment Limited Company (PTPMA), yang diberikan oleh Bank kepada Kontraktor
Firma (Fa), CV, Foundations, Institutions with yang digunakan sebagai modal kerja dalam
Foreign Legal Entities, Political Parties, Special menyelesaikan pekerjaan berdasar pada suatu
Campaign Fund Accounts (RKDK), Ormas/ Kontrak Kerja. BTN Contractor Working Capital
Non-Governmental Organizations (NGOs) Credit is credit provided by the Bank to the
and others. Contractor which is used as working capital in
b. Institutional Time Deposits completing work based on a Work Contract.
• Institutional Deposits • Bridging Loan
Deposits of Third Party Funds to Banks in Bridging Loan is a short-term loan facility to
Rupiah and Foreign Currency which can only bridge the gap between outgoing funds and
be withdrawn at a certain time according new funds that are certain to come in within
to the agreement between the customer a specified period so that debtors can get
and the bank concerned. Institutional Time immediate disbursement of funds to meet their
Deposits can be issued with terms of 1, 2, 3, 4, needs.
6, 12 and 24 months. • KMK Secured by Savings (Institutional Self-
• Institutional On Call Deposits Funding)
Deposits of Third Party Funds to Banks in Loan provided by the Bank to customers with
Rupiah and Foreign Currency which can only collateral in the form of holding part or all of the
be withdrawn at a certain time according Deposit/Current Account/Institutional Savings
to the agreement between the customer funds invested in the Bank.
and the bank concerned. The period for • BTN Investment Loan
placement of Institutional On Call Deposits BTN Investment Loan is a loan facility provided by
is a minimum of 1 day and a maximum of 35 the Bank to legal entities and non-legal entities,
days or according to customer needs. in the context of investment financing, whether
new investments, expansion, modernization or
3. Corporate Loan Products rehabilitation.
Corporate loans are loans given to Debtors in the • Refinancing
form of legal entities (Companies) to meet working Refinancing is the provision of investment
capital needs and/or investment needs as stipulated loans to refinance the productive assets of the
in the Company’s Business Plan. Corporate Loan Debtor/ Prospective Debtor which are already in
Schemes can be given in the form of bilateral, progress and are first financed from the Debtor/
syndicated, club deal, single borrower, and co- Prospective Debtor’s own costs or financing from
borrower/joint-borrower. Corporate Loan products the Bank which has been repaid.
can be given in the form of: • Loan to Ministries/Government Agencies of the
• BTN Working Capital Loan (KMK). Republic of Indonesia
BTN Working Capital Loan is a Working Capital Loan to the Ministry/Government Institution
Loan redit provided by the Bank to legal entities of the Republic of Indonesia is a type of loan
and non-legal entities to finance the company’s provided by the Bank to debtors of the Ministry
working capital needs. and Government Institution of the Republic of
• BTN Construction Working Capital Loan (KMK) Indonesia, which must be repaid with certain
BTN Construction Loan or Yasa Griya Loan (KYG) requirements, in accordance with the loan period.
is a Working Capital Loan provided by the Bank The provision of loan to the Ministry/Government
to Developers in the form of legal entities, non- Institution of the Republic of Indonesia is carried
legal entities for working capital financing for the out to facilitate the need for the provision of
construction of horizontal buildings (residential Government funds through Domestic Loans
houses, shop houses, office houses, stalls and (PDN).
others) or vertical buildings/high rise buildings
(flats, apartments, condotels, office buildings
and others) including their facilities and
infrastructure, as long as based on the Bank’s
assessment it is feasible to be given loan.
PT Bank Tabungan Negara (Persero) Tbk 115
Page 118
Company
Profile
• Term Loan Facility - Local Bank Guarantee is a guaranteed
Term Loan Facility is a non-revolving loan product/service provided by the Bank only
facility for medium-term or long-term financing for domestic transactions and is carried out
of Capital Expenditure and/or Operational based on legal provisions in Indonesia.
Expenditure whose repayment can be paid in - SBLC (Standby Letter of Credit) is a guarantee
installments according to the debtor’s financial that is valid internationally, issued by the
ability. Bank upon request from the applicant to
• Corporate Line Facility guarantee compensation to the beneficiary
Corporate Line Facility is a form of approval for for default conditions carried out by the
the provision of funds in a certain maximum applicant or can also be used to guarantee
limit to borrowers within a certain period of time payment for achievements that have been
based on the results of the Bank’s analysis and carried out by the beneficiary according to
evaluation. the terms and conditions of the SBLC.
• Treasury Line Facility (to Non-Financial - DG (Demand Guarantee) is a guarantee that
Institutions) is valid internationally, issued by the Bank/
Treasury Line Facility is a facility provided by Guarantor based on the applicant’s request
Banks to Non-Financial Institutions to cover to pay the beneficiary with the maximum
Foreign Exchange Line transactions, Fixed Income amount as stated in the DG for default
Lines and other types of facilities commonly conditions carried out by the applicant.
carried out by Banks. - Bank Support Certificate (SKDB) is a financial
• Supply Chain Financing (SCF) support certificate issued by the Bank to
Supply Chain Financing is a portfolio of financing customers for certain purposes.
techniques and practices that support trading • Documentary Collection
and financial flows from the beginning to the end This is a non-L/C transaction service provided by
of a company’s business processes. BTN to customers to collect payments based on
• Trust Receipt documents proving delivery of goods.
Trust Receipt is a short-term trade (import)
financing system provided for customers to defer Sharia Banking/Sharia Business Unit
payment of obligations for redemption of L/C or
Documentary Collection. Sharia Financing Products
• Domestic Documentary Letter of Loan (SKBDN) or
Letter of Credit (L/C) Sharia Business Unit financing products are categorized
It is any written promise based on a written into Consumer Financing and Commercial Financing.
request from the Applicant which binds the Descriptions related to Sharia Business Financing
Issuing Bank to: Products are outlined as follows:
- Make payments to recipients or their orders or 1. Consumer Financing
accept payments for money orders received a. KPR BTN Subsidi iB
by the Bank A financing product from BTN Syariah for home
- Authorize another bank to make payments to purchases for the low income community. This
the recipient or his order or accept and pay facility has low margin, light and fixed installments
money orders drawn by the recipient, or throughout the financing period with the FLPP,
- Authorizes other banks to negotiate money SSM, BP2BT and Tapera Syariah schemes Using a
orders drawn by the Beneficiary. “Murabahah” (sale and purchase) contract and
• Bank Guarantee there are also SSM and BP2BT schemes that use
Banking services that can be provided to the Musyarakah Mutanaqisah (MMQ) contract in
customers in the form of guarantees for the context of ownership of Landed Houses and
conditions that must be met by the party Flats which is a government program.
applying for the guarantee.
Guarantee products and services include Local
Bank Guarantee, Standby Letter of Loan, Demand
Guarantee and Bank Support Certificate, namely:
116 PT Bank Tabungan Negara (Persero) Tbk
Page 119
2024
Annual Report
b. KPR BTN Platinum iB h. Multijasa Financing BTN iB
Financing with a Murabahah contract intended A financing facility under Kafalah bil Ujrah
for individual customers who meet the Bank’s contract for financing various services such
requirements for purchasing a house, shophouse, as: Tuition plan, wedding plan, traveling plan,
office, apartment and/or land and other types umrah/hajj plan, health plan and other services
of property, either new or second hand, to be that do not conflict with the sharia principles.
owned, occupied or used by themselves with the i. Multimanfaat Financing BTN iB
building in ready stock condition. Individual consumer financing facility under
c. BTN iB Property Financing murabahah contract for purchasing legal and
Financing intended for individual customers who beneficial goods such as electronic devices,
meet the Bank’s requirements for the purchase furniture, household appliances, etc.
of a house, shophouse, office house, apartment j. Emasku Financing BTN iB
and/or land and other types of property to be Financing facility for individuals under
owned, occupied, or used by themselves or for murabahah contract for the purchase of gold
refinancing purposes to prospective customers, bullions with fixed installment throughout the
where the Bank provides capital contributions tenure.
and risk burdens as mutually agreed upon where k. BTN iB Multipurpose Financing (Soft Financing)
the transfer of equity shares from the Bank to the Consumer financing facilities provided to BTN
customer is carried out in stages until ownership employees for joint asset ownership in order to
is completely transferred to the customer using purchase property assets that are not yet owned by
the Musyarakah Mutanaqisah contract. the customer or in order to refinance prospective
d. KPR BTN Indent iB customers who already have property. The Bank
BTN Indent iB KPR financing with Istishna contract and the customer provide capital contributions
is intended for individual customers who meet and risk burdens as mutually agreed upon and
the Bank’s requirements for purchasing a house, the transfer of equity shares from the Bank to the
shophouse, office house, apartment and/or customer is carried out in stages until ownership
land and other types of property to be owned, is completely transferred to the customer using
occupied, or used by themselves with an Indent/ the Musyarakah Mutanaqisah contract.
unfinished building condition.
e. House Building Financing iB 2. Commercial Financing
Financing intended for individual applicants a. BTN iB Construction Financing
with a “Murabahah” (buy and sell) contract with Financing facility to meet the customer’s funding
the aim of financing to build and or renovate a needs based on a cooperation agreement
house, shophouse, or other buildings that can between the Bank to run a certain cooperation
be categorized as a residence, on land already business (shirkah) together with the customer
owned by the Applicant, either for his own use or who runs a productive business in the form of
for rent. housing project construction and is carried out in
f. BTN iB Motor Vehicle Financing (PKB) accordance with Sharia principles and with the
A financing product for individual customers obligation for the customer to return the funds
under murabahah (sale and purchase) contract received the following compensation for the
for motor vehicle ownership for personal use. Bank according to the agreed time period and
g. Tunai Emas (Tunas) Financing BTN iB return schedule.
A financing product to meet customers’ funding
needs under qardh (cash loan), rahn (pawn) dan
ijarah (rent) principles under agreement and
pledge.
PT Bank Tabungan Negara (Persero) Tbk 117
Page 120
Company
Profile
b. BTN iB Land Purchase Financing Sharia Savings Products
Financing facilities provided by the Bank to
business entities with legal entities for land 1. Sharia Demand Deposits
acquisition and/or land management for a. Giro BTN iB
the construction of simple houses of which Savings products based on the wadiah (deposit)
construction uses the BTN iB Construction principle, for the purpose of customer financial
Financing facility and is carried out in accordance operational needs by providing profitable
with sharia principles and with the obligation for bonuses to customers for their savings in order
the customer to return the funds received along to facilitate business activities.
with the compensation (profit sharing) for the b. Giro BTN Prima iB
Bank according to the agreed repayment period Savings products with the principles of
and schedule. mudharabah mutlaqah and mudharabah
c. BTN iB Working Capital Financing muqayyadah (investment), are intended for
Financing facility to meet the customer’s funding investment purposes. Customers will receive
needs based on a cooperation agreement profitable profit sharing to facilitate business
between the Bank to run a certain cooperation activities.
business (shirkah) together with the customer
who runs a productive business other than 2. Sharia Savings
housing project development business and a. BTN Batara iB Savings
is carried out with an agreement based on A savings product with a wadi’ah (deposit)
Sharia principles and with the obligation for the contract, used for daily banking transactions,
customer to return the funds received along with providing various benefits that are profitable for
compensation for the Bank according to the customers and imposing administration fees
agreed repayment period and schedule. that do not reduce the principal of savings.
d. BTN iB Investment Financing b. BTN Prima iB Savings
Financing facilities to meet the customer’s A fund savings product under Mudharabah
funding needs based on a cooperation Mutlaqah and Mudharabah Muqayyadah
agreement between the Bank to run a certain (investment) principle for investment where
cooperative business together with the customers receive profitable and competitive
Customer who runs a productive business, for returns and whose administration fee does not
the purchase/procurement of capital goods reduce the principal.
and services needed for business/investment c. BTN Hajj iB and Umroh iB Savings
activities and carried out with a contract based A savings product to realize the dream for hajj
on Sharia principles as well as the obligation and umrah pilgrimage under mudharabah
for the Customer to return the funds received (profit sharing) contract with profitable and
along with the compensation for the Bank (profit competitive returns.
sharing or margin) according to the agreed time d. TabunganKu BTN iB
period and return schedule. A savings product under wadiah (entrust)
e. BTN iB Financing with the IMBT Mechanism contract which offers attractive bonus. This
Provision of Funds for the procurement of Capital product is a collaboration with other Indonesian
Goods or Refinancing Customer Assets with the banks to foster a saving culture and enhance
principle of leasing between the owner of the IMBT people’s welfare.
object (Bank/ Lessor) and the lessee (Customer/ e. BTN Qurban iB Savings
Lesse) ending with the option of transferring A savings product for celebrating the Feast
ownership of the IMBT object from the Bank to the of Sacrifice ceremony under mudharabah
Customer through grants or buying and selling, mutlaqah (profit sharing) contract with profitable
whichever is agreed. and competitive returns.
f. BTN iB Syndicated Financing
Syndicated loan and/or club deal from more than
one bank to one customer whose amount of loan
is too big to be covered by merely one banking/
non-banking financial institution, whose contract
options include mudharabah (profit sharing),
musharakah (cooperation), murabahah (sale
and purchase), or ijarah (rent)..
118 PT Bank Tabungan Negara (Persero) Tbk
Page 121
2024
Annual Report
f. BTN Simpel iB Savings Customer Service
Tabungan Rupiah for students issued by UUS 1. Wealth Management
Bank BTN and Banks in Indonesia with easy and a. BTN Priority Service
simple requirements and attractive features BTN Priority service is an exclusive service from
for education and financial inclusion aims to State Savings Bank specifically for special
introduce a culture of saving from an early ag. customers of Bank BTN. Through BTN Prioritas’
g. BTN Emas iB Savings Customer Value Proposition (CVP), namely
A savings product under mudharabah mutlaqah Defining Your Priority, BTN Prioritas services are
(profit sharing) contract with convenience for the here to provide financial solutions and services
customers in preparing funds for future purchase that are relevant, sustainable and long-lasting
of gold or other needs. for every special individual, BTN Prioritas’ loyal
customers. Supported by professional and
3. Sharia Time Deposits certified Priority Banking Managers, BTN Prioritas
a. Deposito BTN iB presents the latest innovations for customer
A time-based secure, comfortable and reliable needs and convenience through:
savings facility under Mudharabah Mutlaqah • Product solutions that vary, including
and Mudharabah Muqayyadah (investment) Fund Products (BTN Batara Savings, BTN
contract. This product is available for individuals Investa Savings, Felas Savings, BTN Retail
and agencies. Rupiah Deposits, BTN Retail Forex Deposits),
b. Deposito On Call iB Investment Products (State Securities,
A secure and reliable savings facility in Mutual Funds, Foreign currency exchange
shorter tenure under mudharabah mutlaqah transactions) and Bancassurance Products.
(investment) contract. This product is available • Service Privilege in the form of Dedicated
for individuals and agencies. Priority Banking Manager, E-Consolidated
Statement, E-Channel Services, Welcoming
Services and Others Pack, Meeting Room, Calendar Event, Majalah
BTN Prioritas GoodLiving, BTN Prioritas
Conventional Banking Concierge Service, Exclusive Medical Check
Up, Special Day Prizes and Loyalty Rewards
Consumer Card which can be exchanged via PLUS by BTN
A. Suka-suka BTN Card Prioritas, Airport Lounge, Airport Handling,
Debit card with customizable design according to Domestic and International Airport Transfers,
its holder’s request. The card can be used in EDC Overseas Education Consultations, and Tax
transactions and online transactions with online Consultations.
merchants worldwide. • Product Privilege in the form of a BTN Visa
b. BTN Visa Contactless Debit Card Platinum Priority Debit Card with a special
A debit card that can make transactions using design that can be used at various selected
contactless technology that allows customers to merchants to get special offers, Safe Deposit
make transactions by simply placing the card near Box (SDB), BTN Mobile, Special Fund Placement
the EDC Contactless machine without having to use and Member Get Member Program, Home
a PIN. Ownership Credit (KPR) specifically for Priority
c. Blink BTN Card BTN Customers.
E-money based BTN card applicable for transactions b. PLUS by BTN Prioritas
at thousands of e-money acceptances, such as: Toll Understanding customer needs and uniqueness
Roads, Transjakarta BRT, KRL Commuter Line, Parking is an important pillar for Bank BTN to provide
Lots and others. and improve the best banking services through
superior facilities, products and services.
Departing from this vision, BTN Prioritas presents
PLUS (Platform Loyalty User) services. PLUS by
BTN Prioritas is a website-based service with a
membership concept presented specifically for
BTN Prioritas customers. The existence of PLUS by
BTN Prioritas is an effort to translate the Defining
Your Priority customer value proposition so that
the benefits can be truly enjoyed by customers.
PT Bank Tabungan Negara (Persero) Tbk 119
Page 122
Company
Profile
PLUS by BTN Prioritas can be accessed via www. One of the developments at PLUS by BTN Prioritas
definingyourpriority.com and offers various is that BTN Prioritas is the first bank to provide
benefits for BTN Prioritas customers according to airport lounge services without the need to use
the customer’s membership level based on the a Debit Card but only by showing a booking
customer’s total managed funds (Assets Under code or scanning a QR. With this method, BTN
Management/AUM) placed in BTN Prioritas. Prioritas customers can enter the airport lounge
in less than 60 seconds. This feature is currently
The following are the membership levels for BTN the first in the market in the Priority Banking
Prioritas customers: segmentation.
• Gold : total managed funds from IDR500
million to <IDR2 Billion PLUS by BTN Prioritas has also won international
awards, including the following:
• Platinum : total managed funds from IDR2
• “Excellence in Innovation -PLUS by BTN
Billion to <IDR5 Billion
Prioritas Indonesia 2024” at the Global
• Titanium : total managed funds from IDR5
Banking and Finance Award 2024 organized
Billion to <IDR10 Billion
by Global Banking and Finance Review, a
• Prime : total managed funds from IDR10 prestigious business and finance magazine
Billion based in the United Kingdom.
• “Indonesia User Experience of The Year -
Through PLUS by BTN Prioritas, customers can Banking” at the Asian Experience Award 2024
exchange benefits and privileges on 6 (six) main organized by The Asian Business Review, a
features, namely: prestigious business and finance magazine
• Special Offers: Cashback for creating a Single based in Singapore.
Investor ID (SID), Fund Placement with Special
Benefits. This award is a recognition of BTN’s innovation
• Loyalty Reward Options: as a form of our in implementing sustainability principles in its
appreciation for loyal customers, we present products and business operations.
a variety of gift options ranging from Gadgets
and Electronics, Gadget Accessories, From January to December 31, 2024, there
Headphones and Audio, Watches, Household were 59,853 exchange transactions made by
Electronics, Data Packages, E-Vouchers, Customers at PLUS by BTN Prioritas. Meanwhile,
Household Appliances, Games and Hobby, the number of Customers who made exchanges
Health and Beauty to Hampers and Cake. has reached 90% of the total qualified BTN
• Banking Privilege: Safe Deposit Box, Free Mobile Prioritas Customers.
Banking Transaction Fees, Tax Consultation,
Overseas Education Consultation, Meeting In 2024, PLUS by BTN Prioritas will be integrated
Room Reservation. with BALE by BTN, so priority customers can
• BTN Priority Concierge Service: Airport Lounge, directly access PLUS through BTN’s mobile
Airport Handling, Domestic and International banking, BALE.
Airport Transfers, Medical Check Up.
• Membership Coupon: for those of you who 2. BTN Prospera
regularly enjoy sports hobbies such as golf BTN Prospera is a solution specially designed by BTN
and membership to selected hotels and for the Emerging Affluent (EA) segment in Indonesia.
restaurants. Aligned with BTN’s mission to support financial
• Special Day Gifts: to complement your special growth and lifestyle aspirations, BTN Prospera comes
day, available in a variety of gifts ranging from with the brand promise “Unlocking Your Potential”,
Gadgets and Electronics, Gadget Accessories, offering innovative products, lifestyle benefits, and
Headphones and Audio, Watches, Household exclusive banking solutions tailored to customers’
Electronics, Data Packages, E-Vouchers, needs and dreams.
Household Appliances, Games and Hobbies,
Health and Beauty to Hampers and Cake.
120 PT Bank Tabungan Negara (Persero) Tbk
Page 123
2024
Annual Report
BTN Prospera is designed for three key personas: program remains a key driver of BTN’s vision to
1. The Dream Chaser: Entrepreneurs and unlock the full potential of customers in the rapidly
professionals focused on business growth and growing Emerging Affluent segment in Indonesia.
wealth expansion.
2. The Family Fighter: Customers prioritizing 3. ATM
financial stability and building a legacy for their Automatic Teller Machine (ATM) services that
families. can serve cash withdrawals in denominations of
3. The Lifestyle Pursuer: Established individuals IDR50,000 and IDR100,000 spread throughout the
seeking exclusive lifestyle benefits with a high Company’s Branch Office areas and premium
awareness of health and well-being. locations such as ATM Galleries in Malls, shopping
centers, offices, markets and housing estates,
The key offerings and innovations of BTN Prospera making it easier for customers to make transactions
include: and supported by a 24-hour online network.
1. Exclusive Lifestyle Privileges: Complimentary
access to various airport lounges in major 4. Cash Recycling Machine (CRM)
cities across Indonesia, both domestic and ATM machine services that can accept cash
international terminals. Birthday or religious deposits and cash withdrawals in denominations
holiday gifts, as well as annual loyalty rewards of IDR50,000 and IDR100,000 and can serve other
accessible via Bale SuperApp. banking transactions quickly and in real time.
2. Healthy Lifestyle Support Program: Free weekly
group training sessions led by a certified Running 5. Super App (balé by BTN)
Coach, linked to the prestigious annual marathon Balé by BTN functions as a one-stop-shop financial
event, BTN Jakarta International Marathon. solution super app that integrates various BTN
3. Business Growth Support Services: Meeting the e-channel services into a practical, secure, and
needs of self-employed customers in growing convenient application. With just a smartphone,
their businesses through Business Savings customers can seamlessly conduct various banking
products, Business Internet Banking (IBB) services, transactions in real-time, anytime and anywhere.
business mentoring sessions, and business trips
to leading local and international companies. 6. balé business
4. Family-Oriented Services: The Prospera Family A service designed to facilitate BTN Business
Program offers benefits for customers’ family Savings customers in running and growing their
members through various products and features businesses. Balé Bisnis provides convenient financial
that help families achieve their financial goals management and transaction features to support
and secure their future. business operations efficiently.
5. Exclusive Debit Card Promotions: The BTN
Prospera Debit Card offers higher transaction 7. Electronic Data Capture (EDC)
limits, exclusive merchant promotions, and EDC machines act as mini ATMs, providing payment
seamless digital access. and transaction processing services. Customers
can use debit or credit cards by inserting or swiping
BTN Prospera has recorded outstanding growth in them at EDC machines, which are connected to
2024, demonstrated by: the banking network in real-time online, enabling
1. More than IDR8 trillion in retail third-party funds seamless transactions between banks.
(DPK) volume.
2. Over 50,000 registered customers by the end of 8. BTN Cash Management
December 2024. A special service for agencies for self-managed
3. Winning the “Retail Banker of the Year 2024” banking transactions through the internet. This service
award at the World Financial Innovation Series can be accessed at https://cashmanagement.btn.
(WFIS), showcasing BTN’s capability in redefining co.id through registration at the nearest branch
retail banking for the Emerging Affluent market in office. The mobile data tariff depends on each
Indonesia. provider’s policy.
BTN Prospera continues to lead innovation in retail
banking by integrating financial solutions with
meaningful lifestyle and business benefits. This
PT Bank Tabungan Negara (Persero) Tbk 121
Page 124
Company
Profile
9. Branchless Banking remittance, money changer, safe deposit box, utility
Banking products and services without offices bill payment (telephone, electricity and water),
through cooperation with Bank agents and Post internet and TV subscription payment, flight and
Offices acting for and on behalf of the Bank in order train ticket booking and cell phone top up. As a total
to expand the range and ease of banking transaction banking solution provider to agency customers, the
services for the community and are supported by Company also provides the following services:
information technology network facilities. a. Virtual Account BTN
A service for Giro BTN Lembaga (Demand
10. Quick Response Code Indonesian Standard (QRIS) Deposit for Agencies) customers in the form of
Standardize payments using the QR Code method virtual account that can be used by customers/
from Bank Indonesia so that the transaction process partners of the agency to make billing payment
using QR Codes becomes easier, faster and more using any bank’s card. The agency can monitor
secure. the payments received from its customers online
and real-time.
11. Virtual Branch b. Transfer Management
BTN Virtual Branch brings new conveniences for BTN Transfer Management is a bank service for
Bank customers. Customers do not need to linger customers to help customers make fund
at the Bank BTN Outlet to make transactions at the transfers online, both Inhouse Transfers (between
Teller and Customer Service, just fill in the e-form accounts), Domestic transfers (LLG/Clearing
online anywhere and from anywhere before making and RTGS), and International Fund Transfers
transactions at the Bank BTN Outlet. (transfers to other banks both within and outside
the country in foreign currency). Transfers can be
12. BTN Smart Residence made in single currency (the currency code sent
BTN Smart Residence is a platform owned by Bank is the same as the currency code received) and
BTN which is used as a liaison between residents multi-currency (the currency code sent is not the
and managers in the process of paying bills, same as the currency code received).
fees, exchanging information and even making c. Payment Management
complaints. Payment Management is a collaboration
between the Bank and the customers to help
13. BTN Properti customers manage payments and billings, such
A special property portal-based service that makes as;
it easier for prospective debtors to search for project • Edu Payment/SPP Online BTN
listings that have collaborated with Bank BTN, • Edu Payment is a service for educational
installment simulations, online KPR/ KPA applications, institutions that facilitates the online real-
24-hour online live chat, and other features. BTN time collection of tuition fees and other costs
Properti also completes its features with 4D Tour related to education.
Service technology which allows prospective debtors • Bill Payment (payment of telephone,
to get a real picture of the selected property unit. electricity, water, gas, and other bills).
- Tax Payments
14. BTN Open API - Payment for Pertamina product
API or Application Programming Interface, is a link purchases
between one application and another application. - Payment of BPJS Ketenagakerjaan
This technology allows partner customers to make - Payment of BPJS Kesehatan
transfers using their own application because the - Pension payments (Taspen and ASABRI)
application is connected to the BTN system via API. - Payment of hospital bills
- Operational Bank I and II
15. Services and Other Banking Services d. Payroll Service BTN
In addition to distributing loans and collecting A service provided for companies/institutions
third party fund, the Company also provides the for salary payment management and other
customers with other services to increase fee-based financial needs.
income, such as: Domestic and international money
122 PT Bank Tabungan Negara (Persero) Tbk
Page 125
2024
Annual Report
e. balépoin 7. BTN iB Bank Guarantee
balépoin is a customer loyalty program with A service provided by the Bank in the form of a
reward points, where customers earn points guarantee for the payment of a specific amount of
every time they conduct certain transactions or money to the guarantee recipient for a particular
activities, such as saving, investing, or using other transaction or project undertaken by the customer,
banking services. These accumulated points can based on the Kafalah (Guarantee) contract.
be redeemed for various rewards or benefits,
such as discounts, goods, vouchers, or exclusive 8. BTN iB Safe Deposit Box
services. A specially designed place of specific sizes equipped
with security system to ensure the protection of
Sharia Banking/Sharia Business Unit valuable items or important documents from risks
such as fire, theft, and other threats. The contract
1. BTN Sharia Visa Debit Card used is Ijarah (Lease).
A card service facility that provides convenience for
customers through ATMs, allowing cash withdrawals 9. Mobile Banking
and transfers at all BTN ATMs, Link, ATM Bersama, A banking application for BTN Sharia customers
Prima, Visa, and Plus networks. It can also be used that facilitates transactions such as purchases,
for shopping at Visa-affiliated merchants both bill payments, transfers, and account information
domestically and internationally. access via mobile devices.
2. BTN Cash Management 10. Virtual Account
An internet-based service using a web-browser A service that simplifies payments by providing a
application designed to help customers manage unique payment identification number.
their banking activities independently, effectively,
and efficiently. 11. Bancassurance
A collaborative marketing activity between the Bank
3. Payroll BTN iB and an Insurance Company using Sharia principles
A service for companies, institutions, or individuals to distribute Sharia insurance products through the
to manage routine financial payments such as Bank’s distribution network.
salaries, holiday bonuses (THR), and other incentives
for employees.
4. Hajj Travel Cost Payment
A facility that ensures convenience in obtaining a
Hajj departure quota through the online system of
Siskoha.
5. SPP Online BTN iB
A service for universities and schools that provides
a delivery channel to receive tuition and other
educational fees in real-time and online.
6. BTN iB Operational Development Program
A program provided by the Bank to institutional
customers in the form of funds, goods, or other
facilities to support the smooth operation of
customers under specific terms agreed upon by
both the Bank and the customer, while adhering
to the principles of prudence and Good Corporate
Governance (GCG).
PT Bank Tabungan Negara (Persero) Tbk 123
Page 126
Company
Profile
Operational
Area
5
8
6
2
1 7
4
3
1 2 3
Office Networks West Java Jakarta Jakarta
by Region in 2024 Regional Office Regional Office I Regional Office II
Regional Office 1 1 1
Branch Office 10 11 8
Sub-Branch Office 80 93 81
Functional Office - - 1
Sharia Branch Office 5 3 3
Sharia Sub-Branch Office 11 9 6
Sharia Cash Office - - -
Sharia Payment Point - - -
Outlet & Lounge BTN Prioritas 6 11 9
ATM & CRM 337 334 261
124 PT Bank Tabungan Negara (Persero) Tbk
Page 127
2024
Annual Report
Table of Office Network for the last 5 Years
Office Type 2024 2023 2022 2021 2020
Regional Office 8 6 6 6 6
Branch Office 82 81 80 79 78
Sub-Branch Office 536 541 537 543 314
Cash Office - - - - 247
Payment Point - - - - 56
Functional Office 4 3 3 58*
KCP Equivalent Service Office - - 2 2 2
Mobile Cash Office (BTNMove) - - - 51 23
Total Conventional Office Network 630 631 628 739 726
Sharia Branch Office 35 34 30 29 25
Sharia Supporting Branch Office 75 75 69 61 59
Sharia Cash Office - - 5 7 7
Sharia Payment Point - - 6 12 12
Total Sharia Office Network 110 109 110 109 103
*) Looking at the OJK Regulation 12/POJK.03/2021 of July 30, 2021 regarding General Banks, There is simplification of network logging to OJK regulator which is
Bank Office that is located under Branch Office only by Assistant and functional Office, so there is cash Office State Equalization into Cash Office become
Branch Office.
4 5 6 7 8
East Java Regional Office Central Java
Sumatra Kalimantan
Bali Nusra of Sulawesi, & DIY Regional
Regional Office Regional Office
Regional Office Maluku, Papua Office
1 1 1 1 1
16 11 11 8 7
81 76 38 55 32
- 1 - 2 -
4 10 3 4 3
13 17 2 14 3
- - - - -
- - - - -
8 8 5 5 5
332 303 164 209 131
PT Bank Tabungan Negara (Persero) Tbk 125
Page 128
Company
Profile
Structure
Organization
GENERAL MEETING OF
SHAREHOLDERS
President Director
Nixon L.P. Napitupulu
Sharia
Supervisory Vice President Director
Board Oni Febriarto Rahardjo
Director of Director of
Director of Director of SME & Director of
Distribution & Information
Consumer Retail Funding Finance
Funding Technology
Hirwandi Gafar Muhammad Iqbal Nofry Rony Poetra
Jasmin Andi Nirwoto
SEVP
SEVP
Wholesale
Digital Business
Banking
Thomas Wahyudi
Benny Yoslim
SME
Digital Banking Data
Subsidized Sales & Banking Corporate
Product Treasury Management &
Mortgage Distribution Roganda Sahat Banking
Development Nur Khasanah Analytics
Budi Permana Ferry Sipahutar Mangapul Sri Astuti
Tan Jacky Chen Danny Sutanto
Siahaan
Retail Financial
Mortgage & Large Commercial IT Strategic
Digital Banking Funding Institution &
Secured Loan Institutional Banking Planning &
Sales Frengky Capital Market
Mochamad Yut Funding Ricky RS Development
Tan Jacky Chen Rosadrian R. Wahyu B.
Penta Erwinta Siswadi Pattinggi Joko Christianto
Perangin-Angin Witjaksono
Corporate
Personal Mid-size Wholesale IT
Wealth Strategy &
Banking Institutional Transaction Operations
Management Planning
Nurkholis Funding Ricky RS Indra
Meru Arumdalu Hasta Nugraha
Wahyudi Denny Kriswana Pattinggi Hidayatullah
Utomo
Sharia Finance & IT
Banking Regional Accounting Security
Offices
Abdul Firman Yenny Herlina Budi Hariyanto
• Sharia • Branch Offices
• Priority Banking Investor
Branch Offices Relations &
Research
Winang Budoyo
Asset & Liability IT Steering Risk Management Human Capital
Committee Committee Committee Committee
Committee Board SEVP Division Distribution
Command Line Coodination Line
*) Resign from office as of December 20, 2024
126 PT Bank Tabungan Negara (Persero) Tbk
Page 129
2024
Annual Report
In line with the business transformation carried out by the Company, the Board of Directors has adjusted the organizational structure to
ensure the effective execution of business and operational initiatives. This adjustment was made through the Board of Commissioners’
Approval Letter No. 57/KOM/BTN/III/2024 regarding the Approval of Changes to the Organizational Structure of the Head Office of PT
Bank Tabungan Negara (Persero) Tbk, dated March 20, 2024. Below is the Company’s Organizational Structure as of December 31, 2024.
Board of Commissioners
Director of Assets Director of Director of Human
Operations Director of Risk
Management Capital, Compliance
& Customer Management
Elisabeth Novie Experience & Legal
Setiyo Wibowo
Riswanti Hakim Putratama Eko Waluyo
SEVP Audit
Operations Committee
Alex Sofjan Noor
Remuneration
Procurement Credit & Nomination
Customer Committee
& Fixed Asset Operations Retail Human Capital Internal Audit
Experience
Management I Gusti Agung Credit Risk Strategy Hendratno Tri
Eko Hapsoro
Wahyudi Joko Komang Tri Beki Kanuwa Aldo Bimantoro Wibowo
Susilo Risk Monitoring
Santoso Martha W
Committee
Consumer
Collection, Policy & Wholesale
Central Human Capital Corporate
Recovery & Asset Procedure Credit Risk
Operations Management Secretary
Sales 1 L. Esti Dwi Henri Ari
Fatoni Hudhori Rahmayati Ramon Armando
Erwin Dwi Kusuma Retnosari Wibawa
Consumer Human Capital
Enterprise Marketing
Collection, Digital Business Partner
& ESG Risk Communication
Recovery & Operations Aloysius
Management Farida
Asset Sales 2 Adee Indriana D Wilhelmus Junior
Wilson Arafat Andriani W
Bramantyo Tri Bakowatun
Adi Nugroho
Digital & Learning
Commercial Operations Risk Management
Asset Management Ade Surya
Management Agus Sumaryono Lesmana
M. Amin Sholeh
Transformation Compliance &
& Partnership Governance
Management Harman
Erika Soesanto
Legal
Ari Kurniaman
Credit Policy Credit Business Transformation
ESG Committee
Committee Committee Committee Steering Committee
Members of Committees under the Board of Commissioners as of 3. Risk Monitoring Committee: Armand B. Arief, Herry Trisaputra Zuna,
December 31, 2024 are as follows: Himawan Arief Sugoto, Adi Sulistyowati, Andin Hadiyanto, Ignace
1. Audit Committee: Iqbal Latanro, Sentot A. Sentausa, Bambang Widiatmoko, Pamuji Gesang Raharjo
Widjanarko, Endang A. Suprijatna, Indra Jaka Aprilyanta
2. Remuneration and Nomination Committee: Chandra M. Hamzah, Iqbal The names of Committees under the Board of Directors can be found in the
Latanro, Armand B. Arief, Sentot A Sentausa, Andin Hadiyanto, Herry Corporate Governance Chapter.
Trisaputra Zuna, Himawan Arief Sugoto, Adi Sulistyowati, Bambang
Widjanarko, Moch. Amin Nurdin, Rahmayati.
PT Bank Tabungan Negara (Persero) Tbk 127
Page 130
Company
Profile
Association
Membership
The importance of association’s role for a company joining this association, the Company is able to share
encourages the Company to actively participate in the issues and policies regarding the banking industry,
membership of organizations or associations, especially including its impact and opportunities for banking in
in Indonesia. The Company joins various associations the short, medium and long term. In 2024, the Company
related to the business line in the banking industry, joined the following associations:
including its status as a state-owned enterprise. By
Association Name Position in association
NATIONAL
Treasurer and Member of the Banking Economics Study
Perhimpunan Bank Nasional (PERBANAS)
Development Division
Deputy Secretary General I and Head of Regional Division
Ikatan Bankir Indonesia (IBI)
and Member of Regional Division
Forum Human Capital Indonesia BUMN Member
Himpunan Bank-Bank Milik Negara (HIMBARA) Member
Forum Humas BUMN Member
Asosiasi Emiten Indonesia Member
Konsorsium Data Kerugian Eksternal (KDKE) Member
Asosiasi Sistem Pembayaran Indonesia (ASPI) Member
Forum Komunikasi Direktur Kepatuhan Perbankan (FKDKP) Member
Lembaga Alternatif Penyelesaian Sengketa Perbankan Indonesia (LAPSPI) Member
Ikatan Auditor Intern Bank Member
Perhimpunan Audit Internal Indonesia Member
Forum Hukum BUMN Member
Asosiasi SWIFT Indonesia (ASWIFTINDO) Member
Forum Komunikasi Direktur Operasional Member
SRIKANDI BUMN Member
Perhimpunan Pedagang Surat Utang Negara (HIMDASUN) Member
Asosiasi Wali Amanat Indonesia Member - Education Committee
Ikatan Komite Audit Indonesia Chairman of the Board of Directors
Organisasi Profesi Pasar Modal Indonesia (Propami) Member
Asosiasi Pasar Uang dan Valuta Asing Indonesia (APUVINDO) Member
Association Cambiste Internationale (ACI) - Financial Markets
Member
Association (FMA)
INTERNATIONAL
World Saving Bank Institution (WSBI) Member of the Asia-Pacific Regional Group
The Institute of Internal Auditor (IIA)-lndonesia Chapter Member
United Nations Environment Programme Finance Initiative (UNEP FI) Member
Asian Venture Philanthropy Network Member
128 PT Bank Tabungan Negara (Persero) Tbk
Page 131
2024
Annual Report
Board of
Directors Profile
Nixon L.P. Napitupulu
President director
Indonesian Citizen,
55 Years Old As of December 2024,
domiciled in South Jakarta, Indonesia
Educational Background Legal Basis of Appointment
Bachelor (S1) in Economics, Served as Director of the Company for the first
University of North Sumatra, Medan (1994). time since March 17, 2017 through the decision
of the Company’s Annual General Meeting of
Shareholders (AGMS) and declared effective by
the Financial Services Authority (OJK) on July
Certification
25, 2017. Served as Deputy President Director
• Banking Risk Management Level 7 by BSMR since March 10, 2021 through the decision of
(2024 Alignment). the Company’s Annual General Meeting of
• Treasury Dealer Level Advance by LSPP (2023). Shareholders (AGMS) and declared effective by
the Financial Services Authority (OJK) on May 19,
2021 and was trusted to serve again for the 2nd
Period of Office term as Deputy President Director of the Company
based on the decision of the Company’s Annual
• March 17, 2017 – March 02, 2022, First Period
General Meeting of Shareholders (AGMS) on
• March 02, 2022 – 2027 GMS, Second Period
March 2, 2022. Then served as President Director
of the Company since March 16, 2023 through
the Decision of the Company’s Annual General
Concurrent Positions Meeting of Shareholders (AGMS) with a term of
• March 17, 2017 – March 02, 2022, First Period office continuing the remaining term of office in
• March 02, 2022 – 2027 GMS, Second Period accordance with the appointment based on the
• Chairman concurrently Permanent Member of Decision of the 2021 Financial Year AGMS dated
BTN Asset and Liability Committee March 2, 2022 and declared effective by the
• Permanent Member of BTN Information Financial Services Authority (OJK) on June 7, 2023.
Technology Steering Committee
• Chairman concurrently Permanent Member of
BTN Risk Management Committee
• Permanent Member of BTN Human Capital Work Experience
Committee • President Director of BTN (March 2023 – present).
• Permanent Member of BTN Credit or Financing • Deputy President Director of BTN (March 2021 –
Policy Committee March 2023).
• Permanent Member of BTN Risk Function RKK • Acting President Director of BTN (December
Committee A 2020-March 2021).
• Chairman concurrently Permanent Member of • Director of Finance, Planning, and Treasury of
BTN Business Committee BTN (November 2019-March 2021).
• Chairman concurrently Permanent Member of • Director of Finance, Treasury, and Strategy of
BTN ESG Committee BTN (August 2019 – November 2019).
The term of office as a Committee follows the • Director of Collection and Asset Management
term of office as President Director. concurrently as Acting Director of Finance,
Treasury, and Strategy of BTN (May 2019 –
August 2019).
• Director of Collection and Asset Management
Concurrent Position in of BTN (March 2018 – May 2019).
Another Public Company • Director of Collection, Asset Management, and
Does not have concurrent positions in Legal of BTN (2017-May 2019). (December 2017
other public companies. – March 2018).
• Director of BTN (March 2017 – December 2017).
• President Director of PT Bank Mandiri Taspen
Pos (2015-March 2017).
BTN Share Ownership • Head of Transition Team of Bank Joint Venture
of PT Bank Mandiri (Persero) Tbk (2015).
As of December 31,
• Head of Priority Project of Bank Joint Venture of
2024, it owns 5,399,000 shares/0.0384696%
PT Bank Mandiri (Persero) Tbk (2014-2015).
• Group Head of Corporate Secretary Group of PT
Bank Mandiri (Persero) Tbk (2013-2014).
PT Bank Tabungan Negara (Persero) Tbk 129
Page 132
Company
Profile
Oni Febriarto Rahardjo
Deputy President Director
Indonesian Citizen,
53 Years Old As of December 2024,
domiciled in South Tangerang, Indonesia
Educational Background Legal Basis of Appointment
• Bachelor (S1) in Engineering, Diponegoro Served as Director of the Company for the first
University, Semarang (1994). time since March 24, 2015 through the decision
• Master (S2) in Management, PPM of the Company’s Annual General Meeting of
Management College, Jakarta (1997). Shareholders (AGM) and declared effective by
the Financial Services Authority (OJK) on May 19,
2015. Subsequently served as Deputy President
Director of the Company since March 16, 2023
Certification through the Decision of the Company’s Annual
General Meeting of Shareholders (AGM) and
Banking Risk Management Level 7 by BSMR
declared effective by the Financial Services
(2024 Alignment).
Authority (OJK) on June 7, 2023.
Period of Office Work Experience
• March 24, 2015 – November 27, 2019, First • Deputy President Director of BTN (March 2023 -
Period present).
• March 16, 2023 – 2028 GMS, Second Period • Deputy President Director of Perum Perumnas
(May 2020 - March 2023).
• Acting President Director of BTN (August 2019 -
November 2019).
Concurrent Positions • Director of Commercial Banking BTN (March
• Permanent Member of BTN Asset and Liability 2015 - November 2019).
Committee • Small & Micro Lending Division Head BTN
• Permanent Member of BTN Information (March 2013 - March 2015).
Technology Steering Committee • Branch Manager of Ciputat BTN Branch Office
• Permanent Member of BTN Human Capital (November 2012 - March 2013).
Committee
• Permanent Member of BTN Credit or Financing
Policy Committee
• Permanent Member of BTN Business Function
RKK Committee A
• Permanent Member of BTN ESG Committee
The term of office as a Committee follows the
term of office as Deputy President Director.
Concurrent Position in
Another Public Company
Does not have concurrent positions
in other public companies.
BTN Share Ownership
As of December 31, 2024,
owned 1,149,100 shares/0.0081877%
130 PT Bank Tabungan Negara (Persero) Tbk
Page 133
2024
Annual Report
Andi Nirwoto
Director of Information Technology
Indonesian Citizen,
54 Years Old As of December 2024,
domiciled in Central Jakarta, Indonesia
Educational Background Legal Basis of Appointment
• Bachelor (S1) in Engineering, Gadjah Mada Served as Director of the Company for the first
University, Yogyakarta (1994). time since March 23, 2018 through the decision
• Master (S2) in Finance, Gadjah Mada of the Company’s Annual General Meeting of
University, Yogyakarta/University of Lexington Shareholders (AGMS) and declared effective
Kentucky, USA (1997). by the Financial Services Authority (OJK) on
September 10, 2018. Subsequently, he was
honorably dismissed and reappointed as Director
of IT & Digital of the Company based on the
Certification
decision of the Extraordinary General Meeting of
Banking Risk Management Level 7 by BSMR Shareholders (EGMS) of the Company on January
(2024 Alignment). 11, 2023.
Period of Office Work Experience
• March 23, 2018 - January 11, 2023, First Period • Director of Information Technology BTN (March
• January 11, 2023 – 2027 GMS, Second Period 2024 – present).
• Director of IT & Digital BTN (March 2022 -
March 2024).
Concurrent Positions • Director of Operation, IT, and Digital Banking
BTN (2019 - March 2022).
• Permanent Member of BTN Asset and Liability
• Director of IT & Operation BTN (2018 - 2019)
Committee
• General Manager of Information Technology
• Permanent Member of BTN Information
Operations PT Bank Negara Indonesia
Technology Steering Committee
(Persero) Tbk (2017 - 2018).
• Permanent Member of BTN Risk Management
• General Manager of Information Technology
Committee
Solutions & Security Division PT Bank Negara
• Permanent Member of BTN Human Capital
Indonesia (Persero) Tbk (2015 - 2017).
Committee
• Permanent Member of RKK Committee A Risk
Function BTN
• Permanent Member of BTN Business Committee
The term of office as a Committee follows the term
of office as Director of Information Technology.
Concurrent Position in
Another Public Company
Does not have concurrent positions
in other public companies.
BTN Share Ownership
As of December 31, 2024,
it has 2,818,561 shares/0.0200832%
PT Bank Tabungan Negara (Persero) Tbk 131
Page 134
Company
Profile
Elisabeth Novie Riswanti
Director of Assets Management
Indonesian Citizen,
57 Years Old as of December 2024,
domiciled in East Jakarta, Indonesia
Educational Background Legal Basis of Appointment
Bachelor of Law, Gadjah Mada University, Served as Director of the Company for the
Yogyakarta (1991). first time since August 29, 2019 through the
decision of the Extraordinary General Meeting
of Shareholders (EGMS) of the Company and
declared effective by the Financial Services
Certification
Authority (OJK) since June 26, 2020. Subsequently
• Banking Risk Management Level 7 by BSMR honorably dismissed and reappointed as
(2024 Alignment). Director of Assets Management based on
• International Risk Management Refreshment & the decision of the Company’s 2024 General
Wealth Management Certification Program by Meeting of Shareholders on March 6, 2024.
MMUGM and IBI (2022).
Work Experience
Period of Office
• Director of Assets Management BTN (March
• August 29, 2019 - March 6, 2024, First Period 2022 - present).
• March 6, 2024 – 2029 GMS, Second Period • Director of Wholesale Risk and Asset
Management BTN (2021- March 2022).
• Director of Remedial and Wholesale Risk BTN
Concurrent Positions (2019 - 2021)
• Director of Collection and Asset Management
• Permanent Member of BTN Asset and Liability
BTN (2019).
Committee
• Asset Management Division Head BTN (2017 -
• Permanent Member of BTN Risk Management
2019).
Committee
• Permanent Member of BTN Human Capital
Committee
• Permanent Member of BTN Credit or Financing
Policy Committee
• Permanent Member of BTN Risk Function RKK
Committee A
• Permanent Member of BTN ESG Committee
The term of office as a Committee follows the
term of office as Director of Assets Management.
Concurrent Position in
Another Public Company
Does not have concurrent positions
in other public companies.
BTN Share Ownership
As of December 31, 2024,
it has 2,729,600 shares/ 0.0194493%
132 PT Bank Tabungan Negara (Persero) Tbk
Page 135
2024
Annual Report
Jasmin
Director of Distribution and Institutional Funding
Indonesian Citizen,
60 Years Old As of December 2024,
domiciled in South Jakarta, Indonesia
Educational Background Legal Basis of Appointment
• Bachelor (S1) in Economics, Gadjah Mada Served as Director of the Company for the
University, Yogyakarta (1988). first time since November 27, 2019 through the
• Master (S2) in International Business, Gadjah decision of the Extraordinary General Meeting
Mada University, Yogyakarta (1998). of Shareholders (EGMS) of the Company and
declared effective by the Financial Services
Authority (OJK) since May 4, 2020. Subsequently
honorably dismissed and reappointed as
Certification
Director of Distribution and Institutional Funding
• Banking Risk Management Level 7 by BSMR based on the decision of the Company’s 2024
(2024 Alignment). General Meeting of Shareholders on March 6,
• Public Risk Management and Treasury Dealer 2024.
Level 5 (Refreshment 2022).
• Certified Wealth Manager by CWM (2021).
Work Experience
• Director of Distribution and Institutional
Period of Office
Funding (March 2024 – present).
• November 27, 2019 - March 6, 2024, First Period • Director of Distribution and Funding BTN
• March 6, 2024 – GMS 2029, Second Period (March 2022 - March 2024).
• Director of Distribution and Retail Funding BTN
(2019 - March 2022).
Concurrent Positions • SEVP Consumer & Transaction PT Bank Mandiri
(Persero) Tbk (2018 - 2019).
• Permanent Member of BTN Asset and Liability
• Regional CEO IV/JKT 2 PT Bank Mandiri
Committee
(Persero) Tbk (2015 - 2018).
• Permanent Member of BTN Risk Management
• Regional Manager IV-JKT PT Bank Mandiri
Committee
(Persero) Tbk (2013 - 2015).
• Permanent Member of BTN Human Capital
Committee
• Permanent Member of BTN Credit or Financing
Policy Committee
• Permanent Member of BTN Business Function
RKK Committee A
• Permanent Member of BTN Business
Committee
The term of office as a Committee follows the
term of office as Director of Distribution and
Institutional Funding..
Concurrent Position in
Another Public Company
Does not have concurrent positions
in other public companies.
BTN Share Ownership
As of December 31, 2024,
it has 3,844,430 shares/0.0273928%
PT Bank Tabungan Negara (Persero) Tbk 133
Page 136
Company
Profile
Setiyo Wibowo
Director of Risk Management
Indonesian Citizen,
47 Years Old As of December 2024,
domiciled in South Tangerang, Indonesia
Educational Background Legal Basis of Appointment
• Bachelor (S1) in Electrical Engineering, Served as Director of the Company for the
Bandung Institute of Technology, Bandung first time since November 27, 2019 through the
(1999). decision of the Extraordinary General Meeting
• Master (S2) MBA in Finance & Banking, KDI of Shareholders (EGMS) of the Company and
School of Public Policy and Management, declared effective by the Financial Services
South Korea (2009). Authority (OJK) since July 3, 2020. Subsequently,
he was honorably dismissed and reappointed
as Director of Risk Management based on
the decision of the Company’s 2024 General
Certification
Meeting of Shareholders on March 6, 2024.
Banking Risk Management Level 7 by BSMR
(2024 Alignment).
Work Experience
• Director of Risk Management BTN (March 2022
Period of Office
- present).
• November 27, 2019 - March 6, 2024, First Period • Director of Risk Management and
• March 6, 2024 – GMS 2029, Second Period Transformation BTN (2021 - March 2022).
• Director of Enterprise Risk Management, Big
Data, and Analytics BTN (2019 - 2021).
Concurrent Positions • Group Head Consumer Credit Risk & Analytics
PT Bank Mandiri (Persero) Tbk (2018 - 2019).
• Permanent Member of BTN Asset and Liability
• Group Head Credit Portfolio Risk PT Bank
Committee
Mandiri (Persero) Tbk (2017 - 2018).
• Permanent Member of BTN Information
Technology Steering Committee
• Permanent Member of BTN Human Capital
Committee
• Permanent Member of BTN Credit or Financing
Policy Committee
• Permanent Member of BTN Risk Function
Committee A RKK
• Permanent Member of BTN Business Committee
• Permanent Member of BTN Transformation
Steering Committee
• Permanent Member of BTN ESG Committee
The term of office as a Committee follows the
term of office as Director of Risk
Concurrent Position in
Another Public Company
Does not have concurrent positions
in other public companies.
BTN Share Ownership
As of December 31,
2024, it has 2,889,100 shares/0.0205858%
134 PT Bank Tabungan Negara (Persero) Tbk
Page 137
2024
Annual Report
Hirwandi Gafar
Director of Consumer
Indonesian Citizen,
56 Years Old As of December 2024,
domiciled in West Jakarta, Indonesia
Educational Background Legal Basis of Appointment
Bachelor (S1) in Civil Engineering, Bandung Served as Director of the Company for the
Institute of Technology, Bandung (1992). first time since November 27, 2019 through the
decision of the Extraordinary General Meeting of
Shareholders (EGMS) of the Company. Declared
effective by the Financial Services Authority
Certification
(OJK) on August 28, 2020 and effective as
• Banking Risk Management Level 7 by BSMR Director of the Sharia Business Unit on March 2,
(2024 Alignment). 2021. Subsequently honorably dismissed and
• Executive Risk Management Refresher Program reappointed as Director of Consumer based
ESGRC by LPPI (2024). on the decision of the Company’s 2024 General
• International Risk Management Refreshment & Meeting of Shareholders on March 6, 2024
Wealth Management Certification Program by
MMUGM and IBI (2022).
• Basic Training of Islamic Banking/PDPS by PEBS
(2020). Work Experience
• Director of Consumer BTN (March 2022 –
present).
• Director of Sharia Business Unit BTN (2020 –
Period of Office
present)
• November 27, 2019 - March 6, 2024, First Period • Director of Consumer and Commercial
• March 6, 2024 – GMS 2029, Second Period Lending BTN (2019 - March 2022).
• Commercial Lending Division Head BTN (2019).
• Subsidized Mortgage Lending Division Head
Concurrent Positions BTN (2019).
• Permanent Member of BTN Asset and Liability
Committee
• Permanent Member of BTN Risk Management
Committee
• Permanent Member of BTN Human Capital
Committee
• Permanent Member of BTN Credit or Financing
Policy Committee
• Permanent Member of BTN Business Function
RKK Committee A
• Permanent Member of BTN Business
Committee
The term of office as a Committee follows the
term of office as Director of Consumer.
Concurrent Position in
Another Public Company
Does not have concurrent positions
in other public companies.
BTN Share Ownership
As of December 31, 2024,
it has 2,759,714 shares/0.0196639%
PT Bank Tabungan Negara (Persero) Tbk 135
Page 138
Company
Profile
Nofry Rony Poetra
Director of Finance
Indonesian Citizen,
56 Years Old As of December 2024,
domiciled in East Jakarta, Indonesia
Educational Background Legal Basis of Appointment
• Bachelor (S1) in Economics, Pancasila Served as Director of the Company for the first
University, Jakarta (1991). time since March 10, 2021 through the decision
• Master (S2) MBA in International Business, The of the Company’s Annual General Meeting of
George Washington University, Washington Shareholders (AGMS) and declared effective by
DC, USA (1999). the Financial Services Authority (OJK) on August
9, 2021.
Certification
• Treasury Dealer Level Advance (ACI/LSPP) Work Experience
(Refreshment 2024).
• Director of Finance BTN (March 2022 –
• Advanced Professional Accountant
present).
Certification by IAI (2024).
• Director of Finance, Planning and Treasury BTN
• Banking Risk Management Level 7 by BSMR
(2021- March 2022).
(Alignment 2024).
• Treasury Division Head BTN (2015 - 2021).
• Certified Wealth Manager (CWMA) (2006)
• Acting Head of Regional Office I BTN (2015).
• Treasury Division Head BTN (2014).
Period of Office
March 10, 2021 – 2026 GMS, First Period
Concurrent Positions
• Permanent Member of BTN Asset and Liability
Committee
• Permanent Member of BTN Information
Technology Steering Committee
• Permanent Member of BTN Risk Management
Committee
• Permanent Member of BTN Human Capital
Committee
• Permanent Member of BTN Credit or Financing
Policy Committee
• Permanent Member of BTN Business Function
RKK Committee A
• Permanent Member of BTN ESG Committee
The term of office as a Committee follows the
term of office as Director of Finance.
Concurrent Position in
Another Public Company
Does not have concurrent positions
in other public companies.
BTN Share Ownership
As of December 31, 2024,
it has 3,527,422 shares/0.0251340%
136 PT Bank Tabungan Negara (Persero) Tbk
Page 139
2024
Annual Report
Eko Waluyo
Director of Human Capital, Compliance & Legal
Indonesian Citizen,
53 Years Old As of December 2024,
domiciled in Bekasi, Indonesia
Educational Background Legal Basis of Appointment
• Bachelor (S1) in Economics, Universitas Gadjah Served as Director of the Company for the first
Mada, Yogyakarta (1995). time since March 10, 2021 through the decision
• Master of Business Administration (MBA) (S2), of the Company’s Annual General Meeting of
Gatton College of Business in Cooperation with Shareholders (AGMS) and declared effective by
MM UGM, University of Kentucky, USA (2003). the Financial Services Authority (OJK) on August
• Master (S2) in Management, Universitas 9, 2021.
Gadjah Mada, Yogyakarta (2004).
Certification Work Experience
• Certified Professional Human Resources • Director of Human Capital, Compliance &
(CPHR) by BNSP (2024). Legal BTN (March 2022 – present).
• Banking Risk Management Level 7 by BSMR • Director of Compliance and Legal BTN (2021-
(2024 Alignment) March 2022).
• Certified Anti Fraud Professional by Asia Anti • Human Capital Management Division Head
Fraud (2023). BTN (2019-2021).
• Certified Public Accountant (CPA) by Ministry • Human Capital Management & Culture
of Finance (2015). Specialist Division Head BTN (2017-2019).
• Human Capital Division Head BTN (2017).
• Corporate Secretary Division Head BTN (2015-
Period of Office 2017).
• Acting Corporate Secretary Division Head BTN
March 10, 2021 - 2026 GMS, First Period
(2014-2015).
Concurrent Positions
• Permanent Member of BTN Asset and Liability
Committee
• Permanent Member of BTN Risk Management
Committee
• Permanent Member of BTN Human Capital
Committee
• Permanent Member of BTN Credit or Financing
Policy Committee
• Permanent Member of BTN Business Committee
• Permanent Member of BTN Transformation
Steering Committee
• Permanent Member of BTN ESG Committee
The term of office as a Committee follows the
term of office as Director of Human Capital,
Compliance and Legal.
Concurrent Position in
Another Public Company
Does not have concurrent positions
in other public companies.
BTN Share Ownership
As of December 31, 2024,
it has 2,868,364 shares/0.0204380%
PT Bank Tabungan Negara (Persero) Tbk 137
Page 140
Company
Profile
Hakim Putratama
Director of Operations & Customer Experience
Indonesian Citizen,
48 Years Old As of December 2024,
domiciled in South Tangerang, Indonesia
Educational Background Legal Basis of Appointment
• Bachelor (S1) in International Relations, Served as Director of the Company for the first
Padjadjaran University, Bandung (1998). time since March 16, 2023 through the Resolution
• Master (S2) in International Business, Aston of the Company’s Annual General Meeting of
University, England (2001). Shareholders (AGMS) and declared effective by
the Financial Services Authority (OJK) on July 26,
2023.
Certification
Risk Management Level 7 by BSMR
(2024 Alignment). Work Experience
• Director of Operations and Customer
Experience (March 2024 – present)
• Director of Institutional Banking BTN (March
Period of Office
2023 – March 2024).
March 16, 2023 - 2028 GMS, First Period • Head of International and Transaction Banking
PT Bank Pembangunan Daerah Jawa Barat
dan Banten, Tbk (May 2022 – March 2023).
Concurrent Positions • Senior Vice President (SVP) Consumer Funding
Retail Division PT Bank Pembangunan Daerah
• Permanent Member of BTN Asset and Liability
Jawa Barat dan Banten, Tbk (2018 -2022).
Committee
• Senior Vice President (SVP) Corporate
• Permanent Member of BTN Risk Management
Secretary Division PT Bank Pembangunan
Committee
Daerah Jawa Barat dan Banten, Tbk (2015-
• Permanent Member of BTN Human Capital
2018)
Committee
• Senior Vice President (SVP) Head of Marketing
• Permanent Member of BTN Credit or Financing
& Segment Offering PT Bank Commonwealth
Policy Committee
(2012 – 2015).
• Permanent Member of BTN Business Function
RKK Committee A
• Permanent Member of BTN Business
Committee
The term of office as a Committee follows the
term of office as Director of Operations and
Customer Experience..
Concurrent Position in
Another Public Company
Does not have concurrent positions
in other public companies.
BTN Share Ownership
As of December 31, 2024,
owned 794,400 shares/0.0056604%
138 PT Bank Tabungan Negara (Persero) Tbk
Page 141
2024
Annual Report
Muhammad Iqbal
Director of SME & Retail Funding
Indonesian Citizen,
51 Years Old As of December 2024,
domiciled in South Jakarta, Indonesia
Educational Background Legal Basis of Appointment
• Bachelor (S1) in Industrial Engineering, Served as Director of the Company for the first
Bandung Institute of Technology, Bandung time since March 6, 2024 through the decision
(1996). of the Company’s Annual General Meeting of
• Master (S2) in General Management, IPMI Shareholders (AGMS) and declared effective
International Business School, Jakarta (2005). by the Financial Services Authority (OJK) since
• Master (S2) in Business Administration, August 8, 2024.
Monash University, Melbourne (2006).
Work Experience
Certification • Director of SME & Retail Funding BTN (2024 -
Risk Management Level 7 by BSMR present).
(2024 Alignment). • Director of Institutional Banking PT Bank
Negara Indonesia (Persero) Tbk (2023 - March
2024).
• Director of Enterprise & Commercial Banking
Period of Office
PT Bank Negara Indonesia (Persero) Tbk
March 6, 2024 - 2029 GMS, First Period (2022-2023).
• Director of MSME Business PT Bank Negara
Indonesia (Persero) Tbk. (2020- 2022).
Concurrent Positions • SVP Group Head Small & Medium Enterprise
Banking PT Bank Mandiri (Persero) Tbk (August
• Permanent Member of BTN Asset and Liability
2020 - September 2020).
Committee
• SVP Group Head Small Medium Enterprise &
• Permanent Member of BTN Risk Management
Micro Risk PT Bank Mandiri (Persero) Tbk (2017-
Committee
2020).
• Permanent Member of BTN Human Capital
Committee
• Permanent Member of BTN Business
Committee
• Permanent Member of BTN Transformation
Steering Committee
• Permanent Member of BTN Credit or Financing
Policy Committee
• Permanent Member of RKK Committee A BTN
Business Function
The term of office as a Committee follows the
term of office as Director of SME & Retail Funding.
Concurrent Position in
Another Public Company
Does not have concurrent positions
in other public companies.
BTN Share Ownership
As of December 31, 2024,
does not own BBTN shares
PT Bank Tabungan Negara (Persero) Tbk 139
Page 142
Company
Profile
Directors Affiliation Relations
Table of Directors Affiliation Relations
Financial Relations, Family and Board of Directors Management
Financial Relations With Family Relations With
Management
Board of Board of Controlling Board of Board of Controlling Relations
Name Position
Commissioners Directors Shareholders * Commissioners Directors Shareholders *
Yes No Yes No Yes No Yes No Yes No Yes No Yes No
Nixon L. P President
√ √ √ √ √ √ √
Napitupulu Director
Oni
Vice President
Febriarto √ √ √ √ √ √ √
Director
Rahardjo
Director of
Andi
Information √ √ √ √ √ √ √
Nirwoto
Technology
Elisabeth Director
Novie of Assets √ √ √ √ √ √ √
Riswanti Management
Director of
Distribution
Jasmin and √ √ √ √ √ √ √
Institutional
Funding
Director
Setiyo
of Risk √ √ √ √ √ √ √
Wibowo
Management
Hirwandi Director of
√ √ √ √ √ √ √
Gafar Consumer
Nofry Rony Director of
√ √ √ √ √ √ √
Poetra Finance
Director
of Human
√
Eko Waluyo Capital, √ √ √ √ √ √
Compliance
and Legal
Director of
Hakim Operations
Putratama and √ √ √ √ √ √ √
Customer
Experience
Director of
Muhammad
SME and √ √ √ √ √ √ √
Iqbal
Retail Funding
*Directly or indirectly
Changes in the Composition of
Education and/or Training of the Members of the Board of Directors
Board of Directors and Reasons for the Changes
A description of the education and/or training of the During 2024, there were changes to the composition of
Board of Directors during the financial year is presented the Board of Directors. Changes in the composition of
in the Corporate Governance Chapter. the Board of Directors were carried out based on the
Company’s needs. Changes in the composition of the
Board of Directors are as follows:
140 PT Bank Tabungan Negara (Persero) Tbk
Page 143
2024
Annual Report
Composition and Basis of
Appointment of the Board of Directors Before the 2024 Annual GMS
The composition of the Board of Directors before the 2024 and 8 (eight) Directors. The composition and basis of
Annual GMS consisted of 10 (ten) members, comprising appointment of the Board of Directors can be seen in
1 (one) President Director, 1 (one) Vice President Director, the table below.
Table of Composition and Basis of Appointment of the Board of Directors
Executor of the
Name Position Basis of Appointment Period Fit and Proper Effective Date
Assessment
Nixon L.P. President director - Annual GMS dated March 17, Second OJK June 7, 2023
Napitupulu 2017
- Annual GMS dated March 10,
2021
- Annual GMS dated March 2,
2022
- Annual GMS dated March 16,
2023
Oni Febriarto Vice President - Annual GMS dated March 16, First OJK June 7, 2023
Rahardjo Director 2023
Andi Nirwoto Director of IT & - Annual GMS dated March 23, Second OJK September 10,
Digital 2018 2018
- Extraordinary GMS dated
January 11, 2023
Elisabeth Novie Director of Assets Extraordinary GMS dated August First OJK June 26, 2020
Riswanti Management 29, 2019
Jasmin Director of Extraordinary GMS dated First OJK May 4, 2020
Distribution and November 27, 2019
Funding
Setiyo Wibowo Director of Risk Extraordinary GMS on November First OJK July 3, 2020
Management 27, 2019
Hirwandi Gafar Director of Extraordinary GMS on November First OJK August 28, 2020
Consumer 27, 2019
Nofry Rony Director of Finance Annual GMS on March 10, 2021 First OJK August 9, 2021
Poetra
Eko Waluyo Director of Human Annual GMS on March 10, 2021 First OJK August 9, 2021
Capital, Compliance
& Legal
Hakim Director of Annual GMS on March 16, 2023 First OJK July 26, 2023
Putratama Institutional Banking
Composition and Basis for
Appointment of the Board of Directors After the 2024 Annual GMS
On March 6, 2024, the Annual GMS decided:
1. Honorably dismiss the following names as Company Directors:
a. Elisabeth Novie Riswanti – as Director of Assets Management
b. Hirwandi Gafar – as Director of Consumer
c. Jasmin – as Director of Distribution and Funding
d. Setiyo Wibowo – as Director of Risk Management
2. change the nomenclature of positions of members of the Company’s Board of Directors as follows:
PT Bank Tabungan Negara (Persero) Tbk 141
Page 144
Company
Profile
No. Originally Become
1. Director of Distribution and Funding Director of Distribution and Institutional Funding
2. Director of IT and Digital Director of Information Technology
3. Director of Institutional Banking Director of Operations and Customer Experience
4. - Director of SME and Retail Funding
3. Assigning the following names as Members of the Company’s Board of Directors:
No. Name Originally Become
1. Andi Nirwoto Director of IT and Digital Director of Information Technology
2. Hakim Putratama Director of Institutional Banking Director of Operations and Customer Experience
4. Appointing the following names as Directors of the Company:
a. Elisabeth Novie Riswanti – as Director of Assets Management
b. Hirwandi Gafar – as Director of Consumer
c. Jasmin – sebagai Director of Distribution and Institutional Funding
d. Setiyo Wibowo – as Director of Risk Management
e. Muhammad Iqbal – as Director of SME and Retail Funding
So that the composition of the Board of Directors after the 2024 Annual GMS is 11 (eleven) people consisting of 1
(one) President Director, 1 (one) Deputy President Director and 9 (nine) Directors. The composition and basis for the
appointment of members of the Board of Directors can be seen in the table below.
Table of Composition and Basis for Appointment of Board of Directors After the 2024 Annual GMS
Executor of the
Name Position Basis of Appointment Period Fit and Proper Effective Date
Assessment
Nixon L.P. President Director - Annual GMS dated March 17, Second OJK June 7, 2023
Napitupulu 2017
- Annual GMS dated March 10,
2021
- Annual GMS dated March 2,
2022
- Annual GMS dated March 16,
2023
Oni Febriarto Deputy President - Annual GMS dated March 16, First OJK June 7, 2023
Rahardjo Director 2023
Andi Nirwoto Director of - Annual GMS dated March 23, Second OJK September 10,
Information 2018 2018
Technology - Extraordinary GMS dated
January 11, 2023
Elisabeth Novie Director of Assets - Extraordinary GMS dated Second OJK June 26, 2020
Riswanti Management August 29, 2019
- Annual GMS dated March 6,
2024
142 PT Bank Tabungan Negara (Persero) Tbk
Page 145
2024
Annual Report
Executor of the
Name Position Basis of Appointment Period Fit and Proper Effective Date
Assessment
Jasmin Director of - Extraordinary GMS dated Second OJK May 4, 2020
Distribution and November 27, 2019
Institutional Funding - Annual GMS dated March 6,
2024
Setiyo Wibowo Director of Risk - Extraordinary GMS dated Second OJK July 3, 2020
Management November 27, 2019
- Annual GMS dated March 6,
2024
Hirwandi Gafar Director of - Extraordinary GMS dated Second OJK August 28, 2020
Consumer November 27, 2019
- Annual GMS dated March 6,
2024
Nofry Rony Director of Finance Annual GMS dated March 10, 2021 First OJK August 9, 2021
Poetra
Eko Waluyo Director of Human Annual GMS dated March 10, 2021 First OJK August 9, 2021
Capital, Compliance
& Legal
Hakim Director of Annual GMS dated March 16, 2023 First OJK July 26, 2023
Putratama Operations
& Customer
Experience
Muhammad Director of SME & Annual GMS dated March 6, 2024 First OJK August 8, 2024
Iqbal Retail Funding
PT Bank Tabungan Negara (Persero) Tbk 143
Page 146
Company
Profile
Board of
Commissioners Profile
Chandra M. Hamzah
President Commissioner/Independent
Indonesian Citizen,
57 years old as of December 2024,
domiciled in South Jakarta, Indonesia
Educational Background Legal Basis for Appointment
Bachelor of Law, University of Indonesia (1995). Served as President Commissioner and
Independent Commissioner of the Company for
the first time since November 27, 2019 through
the decision of the Company’s Extraordinary
Certification General Meeting of Shareholders (EGMS)
Banking Risk Management Level 6 by LSPP and was declared effective by the Financial
(2024 Alignment) Services Authority (OJK) since May 4, 2020. Then
reappointed on March 6, 2024 through the 2024
Annual General Meeting of Shareholders.
Period of Office
• November 27, 2019 - March 6, 2024, First Period
• March 6, 2024 – GMS 2029, Second Period Work Experience
• President Commissioner/Independent of BTN
(2019 - present).
• President Commissioner of PT Perusahaan
Concurrent Positions
Listrik Negara (Persero) (2014 - 2015).
• Chairman and concurrently BTN Remuneration • Partner of Assegaf Hamzah & Partners Law
and Nomination Committee (2020-present). Firm (2012 - present).
• Co-Founder & Senior Partner of Assegaf • Commissioner of the Corruption Eradication
Hamzah & Partners Law Firm (2012-present). Commission (KPK) (2007 - 2011).
• Partner of Assegaf Hamzah & Partners Law
Firm (2001 - 2007).
Concurrent Positions
in Other Public Companies
Does not have concurrent positions
in other public companies.
BTN Share Ownership
As of December 31, 2024,
does not own BBTN shares
144 PT Bank Tabungan Negara (Persero) Tbk
Page 147
2024
Annual Report
Iqbal Latanro
Deputy Commissioner/Independent
Indonesian Citizen,
66 Years Old As of December 2024,
domiciled in South Jakarta, Indonesia
Educational Background Legal Basis for Appointment
• Bachelor (S1) in Economics, Hasanuddin Served as Deputy President Commissioner/
University, Makassar (1983). Independent of the Company for the first time
• Master (S2) in Business Management, since March 10, 2021 through the decision of
Hasanuddin University, Makassar (1998). the Company’s Annual General Meeting of
Shareholders (AGMS) and declared effective
by the Financial Services Authority (OJK) on
September 6, 2021.
Certification
Banking Risk Management Level 7 by LSPP
(2024 Alignment).
Work Experience
• Deputy President Commissioner/Independent
of BTN (2021 - present).
Period of Office
• Commissioner of PT Bank Mandiri Taspen
March 10, 2021 - 2026 GMS, First Period (2020 - 2021).
• Commissioner of PT Pemeringkat Efek
Indonesia (2020 - 2021).
Concurrent Positions • President Director of PT Taspen (Persero) (2018
- 2020).
• Chairman and concurrently BTN Audit
• President Commissioner of PT Taspen Properti
Committee (2021-present).
Indonesia (2015 - 2020).
• Member of BTN Remuneration and Nomination
Committee (2021-present).
Concurrent Positions
in Other Public Companies
Does not have concurrent positions
in other public companies.
BTN Share Ownership
As of December 31, 2024,
does not own BBTN shares
PT Bank Tabungan Negara (Persero) Tbk 145
Page 148
Company
Profile
Armand B. Arief
Independent Commissioner
Indonesian Citizen,
72 Years Old As of December 2024,
domiciled in South Jakarta, Indonesia
Educational Background Legal Basis for Appointment
• Bachelor (S1) Business Administration, Curry Served as Independent Commissioner of the
College, Milton Massachusetts, United States Company for the first time since November 27,
(1982). 2019 through the decision of the Extraordinary
• Master (S2) Business Administration, Suffolk General Meeting of Shareholders (EGMS) of the
University, Boston Massachusetts, United Company and was declared effective by the
States (1995). Financial Services Authority (OJK) since May
14, 2020. Then reappointed on March 6, 2024
through the 2024 Annual General Meeting of
Shareholders.
Certification
Banking Risk Management Level 6 by LSPP
(2024 Alignment).
Work Experience
• Independent Commissioner of PT Cardig Aero
Services Tbk (2021 - present).
Period of Office
• Independent Commissioner of BTN (2019 -
• November 27, 2019 - March 6, 2024, First Period present).
• March 6, 2024 – 2029 GMS, Second Period • Independent Commissioner of PT Bank Royal
Indonesia (2017 - 2018).
• Commissioner/Senior Consultant of Dunamis
Concurrent Positions Organization Services (Franklin Covey USA
Subsidiary (2016 - 2019).
• Chairman and concurrently BTN Risk
• Member of the Financial Services Authority
Monitoring Committee (2020-present).
Panel Interviewer (2016 - 2017).
• Member of BTN Remuneration and Nomination
Committee (2020-present).
Concurrent Positions
in Other Public Companies
Independent Commissioner of PT Cardig Aero
Services Tbk (2021—present).
BTN Share Ownership
As of December 31, 2024,
does not own BBTN shares
146 PT Bank Tabungan Negara (Persero) Tbk
Page 149
2024
Annual Report
Sentot A. Sentausa
Independent Commissioner
Indonesian Citizen,
67 Years Old As of December 2024,
domiciled in South Jakarta, Indonesia
Educational Background Legal Basis for Appointment
• Bachelor (S1) Statistics, Padjadjaran University, Served as Independent Commissioner of the
Bandung (1985). Company for the first time since March 2, 2022
• Master (S2) Business Administration, Monash through the Resolution of the Company’s Annual
University, Australia (1995). General Meeting of Shareholders (AGMS) and
declared effective by the Financial Services
Authority (OJK) since August 8, 2022.
Certification
Banking Risk Management Level 7 by LSPP
(2024 Alignment). Work Experience
• Independent Commissioner of BTN (2022 -
present).
• President Commissioner of PT Jiwasraya
Period of Office
(Persero) (2019 - 2020).
March 2, 2022 – 2027 GMS, First Period • President Commissioner of Mandiri lnhealth
(2016 - 2019).
• Distribution Director of PT Bank Mandiri
Concurrent Positions (Persero) Tbk (2015 - 2016).
• Risk Management Director of PT Bank Mandiri
• Member of BTN Audit Committee
(Persero) Tbk (2006 - 2014).
(2022-present).
• Member of BTN Remuneration and Nomination
Committee (2022-present).
Concurrent Positions
in Other Public Companies
Does not have concurrent positions
in other public companies.
BTN Share Ownership
As of December 31, 2024,
does not own BBTN shares
PT Bank Tabungan Negara (Persero) Tbk 147
Page 150
Company
Profile
Adi Sulistyowati
Independent Commissioner
Indonesian Citizen,
57 years old as of December 2024,
domiciled in South Jakarta, Indonesia
Educational Background Legal Basis for Appointment
Bachelor (S1) in Management Economics, Served as Independent Commissioner of the
Krisnadwipayana University, Jakarta (1986) Company for the first time since March 6, 2024
through the decision of the Company’s Annual
General Meeting of Shareholders (AGMS) and
declared effective by the Financial Services
Certification
Authority (OJK) since October 7, 2024.
Banking Risk Management Level 7 by LSPP
(2024 Alignment).
Work Experience
• Independent Commissioner of BTN (March
Period of Office
2024—present)
6 March 6, 2024 – 2029 GMS, First Period • Deputy President Director of PT Bank Negara
Indonesia (Persero) Tbk (2020—March 2024)
• Director of Services and Network of PT Bank
Concurrent Position Negara Indonesia (Persero) Tbk (2020)
• Director of Institutional Relations of PT Bank
• Member of BTN Risk Monitoring Committee
Negara Indonesia (Persero) Tbk (2015—2020)
(2024—present).
• Head of Network and Service Division of PT
• Member of BTN Remuneration and Nomination
Bank Negara Indonesia (Persero) Tbk (2012-
Committee (2024—present).
2015)
Concurrent Positions
in Other Public Companies
Does not have concurrent positions
in other public companies
BTN Share Ownership
As of 31 December 2024,
it does not own BBTN shares
148 PT Bank Tabungan Negara (Persero) Tbk
Page 151
2024
Annual Report
Bambang Widjanarko
Independent Commissioner
Indonesian Citizen,
61 Years As of December 2024,
domiciled in Bekasi, Indonesia
Educational Background Legal Basis for Appointment
• Bachelor (S1) in Accounting, Brawijaya Served as Independent Commissioner of the
University, Malang (1988). Company for the first time since March 6, 2024
• Master (S2) in Business and Finance, through the decision of the Company’s Annual
International University of Japan, Japan General Meeting of Shareholders (AGMS) and
(2000). declared effective by the Financial Services
Authority (OJK) since October 7, 2024.
Certification
Banking Risk Management Level 6 by LSPP Work Experience
(2024 Alignment). • Independent Commissioner of BTN (March
2024—present)
• Deputy Commissioner for Supervision of
Government and Sharia Banks OJK (2023)
Period of Office
• Deputy Commissioner for Supervision of
March 6, 2024 – 2029 GMS, First Period Banking II OJK (2020—2023)
• Deputy Commissioner for Investigation,
Organization and Human Resources OJK
Concurrent Positions (2018—2020)
• Head of Regional Office 1 DKI Jakarta and
• Member of BTN Audit Committee (2024—
Banten OJK (2016—2018)
present).
• Member of BTN Remuneration and Nomination
Committee (2024—present).
Concurrent Positions
in Other Public Companies
Does not have concurrent positions
in other public companies.
BTN Share Ownership
As of December 31, 2024,
does not own BBTN shares
PT Bank Tabungan Negara (Persero) Tbk 149
Page 152
Company
Profile
Andin Hadiyanto
Commissioner
Indonesian Citizen,
59 Years Old As of December 2024,
domiciled in Bekasi, Indonesia
Educational Background Legal Basis for Appointment
• Bachelor (S1) in Economics, Universitas Gadjah Served as Commissioner of the Company for
Mada, Yogyakarta (1989). the first time since November 27, 2019 through
• Master (S2) in International Development, the decision of the Extraordinary General
Nagoya University, Japan (1997). Meeting of Shareholders (EGMS) of the Company
• Doctor (S3) in International Development, and was declared effective by the Financial
Nagoya University, Japan (2000). Services Authority (OJK) since July 10, 2020. Then
reappointed on March 6, 2024 through the 2024
Annual General Meeting of Shareholders.
Certification
Banking Risk Management Level 6 by LSPP
(2024 Alignment). Work Experience
• Head of the Financial Education and Training
Agency (BPPK) and Acting President Director
of the Education Fund Management Institute
Period of Office
(LPDP), Ministry of Finance (2021 - present).
• November 27, 2019 - March 6, 2024, First Period • Commissioner of BTN (2019 - present).
• March 6, 2024 – 2029 GMS, Second Period • Director General of Treasury, Ministry of
Finance (2019 - 2021).
• Expert Staff on Macroeconomics and
Concurrent Positions International Finance, Ministry of Finance
(2018 - 2019).
• Head of the Financial Education and Training
• Executive Director, World Bank (2016 - 2018).
Agency (BPPK) and Acting President Director
of the Education Fund Management Institute
(LPDP), Ministry of Finance (2021 – present).
• Member of the BTN Audit Committee
(2020-present).
• Member of the BTN Remuneration and
Nomination Committee (2020-present).
Concurrent Positions
in Other Public Companies
Does not have concurrent positions
in other public companies.
BTN Share Ownership
As of December 31, 2024,
does not own BBTN shares
150 PT Bank Tabungan Negara (Persero) Tbk
Page 153
2024
Annual Report
Herry Trisaputra Zuna
Commissioner
Indonesian Citizen,
57 Years Old As of December 2024,
domiciled in West Jakarta, Indonesia
Educational Background Legal Basis for Appointment
• Bachelor (S1) in Civil Engineering, Bandung Served as Commissioner of the Company for
Institute of Technology, Bandung (1992). the first time since March 2, 2022 through the
• Bachelor (S1) in Management, Padjajaran Resolution of the Company’s Annual General
University, Bandung (1993). Meeting of Shareholders (AGMS) and declared
• Master (S2) in Highway Systems and effective by the Financial Services Authority
Engineering, Bandung Institute of Technology, (OJK) on October 11, 2022.
Bandung (1994).
• Doctor (S3) in Civil Engineering, University of
Indonesia, Depok (2016).
Work Experience
• Road and Bridge Management Expert,
Ministry of Public Works and Public Housing
Certification (2024-present).
Banking Risk Management Level 6 by LSPP • BTN Commissioner (2022 - present).
(2024 Alignment). • Director General of Public Works and Housing
Infrastructure Financing, Ministry of Public
Works and Public Housing (2021 - present).
• Director of Financing Strategy System
Period of Office
Development, Ministry of Public Works and
March 2, 2022 - 2027 GMS, First Period Public Housing (2019 - 2021).
• Commissioner of PT Wijaya Karya Beton Tbk
(2017 - 2019).
Concurrent Positions • Head of the Indonesian Toll Road Regulatory
Agency, Ministry of Public Works and Public
• Member of BTN Remuneration and Nomination
Housing (2015 - 2019).
Committee (2022-present).
• Member of BTN Risk Monitoring Committee
(2022-present).
• Road and Bridge Management Expert,
Ministry of Public Works and Public Housing
(2024-present).
• Director General of Public Works and Housing
Infrastructure Financing, Ministry of Public
Works and Public Housing (2021-present).
Concurrent Positions
in Other Public Companies
Does not have concurrent positions
in other public companies.
BTN Share Ownership
As of December 31, 2024,
has 879,300 shares or 0.0062653%
PT Bank Tabungan Negara (Persero) Tbk 151
Page 154
Company
Profile
Himawan Arief Sugoto
Commissioner
Indonesian Citizen,
61 Years Old As of December 2024,
domiciled in Depok, Indonesia
Educational Background Legal Basis for Appointment
• Bachelor (S1) in Civil Engineering, Bandung Served as Commissioner of the Company for
Institute of Technology, Bandung (1990). the first time since March 2, 2022 through the
• Master (S2) in Civil Engineering, University of Resolution of the Company’s Annual General
Indonesia, Jakarta (2001). Meeting of Shareholders (AGMS) and declared
• Doctor (S3) in Management and Business, effective by the Financial Services Authority
Bogor Agricultural Institute, Bogor (2023). (OJK) on October 3, 2022.
Certification Work Experience
Banking Risk Management Level 6 by LSPP • Principal Advisor to the Minister of Agrarian
(2024 Alignment). Affairs and Spatial Planning/Head of the
National Land Agency for Land Economics
(2023-present).
• Commissioner of BTN (2022 - present).
Period of Office
• Secretary of the Land Bank Agency Committee
March 2, 2022 - 2027 GMS, First Period (2021 - 2023).
• Commissioner of PT Rajawali Nusantara
Indonesia (Food Holding) (2020 - 2022).
Concurrent Positions • Acting Director General of Land Acquisition
and Land Development of the Ministry of
• Principal Advisor to the Minister of Agrarian
Agrarian Affairs and Spatial Planning/National
Affairs and Spatial Planning/Head of the
Land Agency (2020 - 2021).
National Land Agency for Land Economics
• Secretary General of the Commissioner of
(2023-present).
the Ministry of Agrarian Affairs and Spatial
• Member of the BTN Remuneration and
Planning/National Land Agency (2018 - 2023).
Nomination Committee (2022-present).
• Member of the BTN Risk Monitoring Committee
(2022-present).
• Secretary of the Land Bank Agency Committee
(2021-2023).
• Secretary General of the Commissioner of
the Ministry of Agrarian Affairs and Spatial
Planning/National Land Agency (2018-2023).
Concurrent Positions
in Other Public Companies
Does not have concurrent positions
in other public companies.
BTN Share Ownership
As of December 31, 2024,
it has 879,300 shares or 0.0062653
152 PT Bank Tabungan Negara (Persero) Tbk
Page 155
2024
Annual Report
Mohamad Yusuf Permana*
Commissioner
Indonesian Citizen,
49 years old as of December 2024,
domiciled in South Jakarta, Indonesia
Educational Background Legal Basis for Appointment
Bachelor (S1) in Economics, Gunadarma Served as Commissioner of the Company for
University, Jakarta (1999). the first time since January 11, 2023 through the
Decision of the Extraordinary General Meeting
of Shareholders (EGMS) of the Company and
declared effective by the Financial Services
Certification
Authority (OJK) on June 7, 2023.
Banking Risk Management Level 6 by LSPP
(2024 Alignment).
Work Experience
• Commissioner of PT Bank Tabungan Negara
Period of Office
(Persero) Tbk (2023—2024).
January 11, 2023 – March 6, 2024, First Period • Head of Protocol Bureau of Presidential
Secretariat, Ministry of State Secretary (2021—
2024).
Concurrent Positions • Commissioner of PT Pelindo Multi Terminal
(2021).
• Head of Protocol Bureau of Presidential
• Commissioner of PT Pelabuhan Indonesia I
Secretariat, Ministry of State Secretary (2021—
(Persero) (2021).
2024).
• Commissioner of PT Djakarta Lloyd (2020).
• Member of BTN Remuneration and Nomination
Committee (2023—2024).
Concurrent Positions
in Other Public Companies
Does not have concurrent positions
in other public companies.
BTN Share Ownership
As of March 4, 2024,
does not own BBTN shares
*) Resigned from office on March 4, 2024 and was confirmed at the 2024 Annual GMS.
PT Bank Tabungan Negara (Persero) Tbk 153
Page 156
Company
Profile
Affiliation of the Board of Commissioners
Table of Affiliation of the Board of Commissioners
Financial Relations, Family and Board of Commissioner Management
Financial Relations With Family Relations With
Management
Board of Board of Controlling Board of Board of Controlling Relations
Name Position
Commissioners Directors Shareholders * Commissioners Directors Shareholders *
Yes No Yes No Yes No Yes No Yes No Yes No Yes No
President
Chandra M.
Commissioner/ - √ - √ - √ - √ - √ - √ - √
Hamzah
Independent
Vice President
Iqbal
Commissioner/ - √ - √ - √ - √ - √ - √ - √
Latanro
Independent
Armand B. Independent
- √ - √ - √ - √ - √ - √ - √
Arief Commissioner
Sentot A. Independent
- √ - √ - √ - √ - √ - √ - √
Sentausa Commissioner
Adi Independent
- √ - √ - √ - √ - √ - √ - √
Sulistyowati Commissioner
Bambang Independent
- √ - √ - √ - √ - √ - √ - √
Widjanarko Commissioner
Andin
Commissioner - √ - √ - √ - √ - √ - √ - √
Hadiyanto
Herry
Trisaputra Commissioner - √ - √ - √ - √ - √ - √ - √
Zuna
Himawan
Commissioner - √ - √ - √ - √ - √ - √ - √
Arief Sugoto
*Directly or indirectly
Education and/or Training of the Changes in the Composition
Board of Commissioners of Members of the Board of
Commissioners and Reasons for the
A description of the education and/or training of the Changes
Board of Commissioners during the Fiscal year is
presented in the Corporate Governance Chapter. During 2024, there was a change in the composition of
the members of the Board of Commissioners. Changes
in the composition of the members of the Board of
Commissioners were made based on the needs of the
Company. Changes in the composition of the members
of the Board of Commissioners are as follows:
154 PT Bank Tabungan Negara (Persero) Tbk
Page 157
2024
Annual Report
Composition and Basis for
Appointment of the Board of Commissioners Before the 2024 Annual GMS
The composition of the Board of Commissioners before 2 (two) Independent Commissioners and 4 (four)
the 2024 Annual GMS is 8 (eight) people consisting Commissioners. The composition and basis for the
of 1 (one) President Commissioner/Independent, 1 appointment of the Board of Commissioners can be
(one) Deputy President Commissioner/Independent, seen in the table below.
Table of Composition and Basis for
Appointment of the Board of Commissioners Prior to the 2024 Annual GMS
Executor of the
Name Position Basis of Appointment Period Fit and Proper Effective Date
Assessment
President
Chandra M. Extraordinary GMS on November
Commissioner/ First OJK May 4, 2020
Hamzah 27, 2019
Independent
Vice President
September 6,
Iqbal Latanro Commissioner/ Annual GMS on March 10, 2021 First OJK
2021
Independent
Independent Extraordinary GMS on November
Armand B. Arief First OJK May 14, 2020
Commissioner 27, 2019
Sentot A. Independent
Annual GMS on March 2, 2022 First OJK August 8, 2022
Sentausa Commissioner
Andin Extraordinary GMS on November
Commissioner First OJK July 10, 2020
Hadiyanto 27, 2019
Herry Trisaputra
Commissioner Annual GMS on March 2, 2022 First OJK October 11, 2022
Zuna
Himawan Arief
Commissioner Annual GMS on March 2, 2022 First OJK October 3, 2022
Sugoto
Mohamad Extraordinary GMS on January
Commissioner First OJK June 07, 2023
Yusuf Permana 11, 2023
Composition and Basis of Appointment of the Board of Directors After the 2024
Annual GMS
On March 6, 2024, the Annual GMS resolved to: 3. Appointing the following names as Directors of the
1. Confirming the dismissal Ahdi Jumhari Luddin as Company:
Independent Commissioner and Mohamad Yusuf a. Chandra M. Hamzah - as President
Permana as Commissioner, who were appointed Commissioner/Independent
based on the resolution of the 2019 Extraordinary b. Bambang Widjanarko - as Independent
GMS dated November 27, 2019, and the resolution of Commissioner
the 2023 Extraordinary GMS dated January 11, 2023, c. Armand B. Arief - as Independent Commissioner
respectively, effective as of August 12, 2023, and d. Adi Sulistyowati - as Independent Commissioner
March 4, 2024. e. Andin Hadiyanto - as Commissioner
2. Dismissing Chandra M. Hamzah as President As a result, the composition of the Board of
Commissioner/Independent, Andin Hadiyanto as Directors after the 2024 Annual GMS consists of 11
Commissioner, and Armand B. Arief as Independent (eleven) members, comprising 1 (one) President
Commissioner, who were appointed based on the Director, 1 (one) Vice President Director, and 9
resolution of the 2019 Extraordinary GMS dated (nine) Directors. The composition and basis of
November 27, 2019. appointment of the Board of Directors can be
seen in the table below.
PT Bank Tabungan Negara (Persero) Tbk 155
Page 158
Company
Profile
Table of Composition and Basis of Appointment of the Board of Directors after the 2024 Annual GMS
Executor of the
Name Position Basis of Appointment Period Fit and Proper Effective Date
Assessment
President
Chandra M.
Commissioner/ Annual GMS on March 6, 2024 Second OJK May 4, 2020
Hamzah
Independent
Vice President
September 6,
Iqbal Latanro Commissioner/ Annual GMS on March 10, 2021 First OJK
2021
Independent
Independent
Armand B. Arief Annual GMS on March 6, 2024 Second OJK May 14, 2020
Commissioner
Sentot A. Independent
Annual GMS on March 2, 2022 First OJK August 8, 2022
Sentausa Commissioner
Independent
Adi Sulistyowati Annual GMS on March 6, 2024 First OJK October 7, 2024
Commissioner
Bambang Independent
Annual GMS on March 6, 2024 First OJK October 7, 2024
Widjanarko Commissioner
Andin
Commissioner Annual GMS on March 6, 2024 Second OJK July 10, 2020
Hadiyanto
Herry Trisaputra
Commissioner Annual GMS on March 2, 2022 First OJK October 11, 2022
Zuna
Himawan Arief
Commissioner Annual GMS on March 2, 2022 First OJK October 3, 2022
Sugoto
156 PT Bank Tabungan Negara (Persero) Tbk
Page 159
2024
Annual Report
Board of
Sharia Supervisory Profile
Prof. Dr. H. Muhammad Quraish
Shihab, M.A
Chairman of the Sharia Supervisory Board
Indonesian Citizen,
81 Years Old As of December 2024,
domiciled in South Jakarta, Indonesia
Educational Background Legal Basis for Appointment
• Bachelor (S1) in Tafsir and Hadith from Al- Served as Chairman of the Sharia Supervisory
Azhar University, Cairo, Egypt (1967). Board for the first time through the results of
• Postgraduate (S2) in Tafsir and Hadith from Al- the Company’s Annual General Meeting of
Azhar University, Cairo, Egypt (1969). Shareholders (AGM) on March 23, 2018 and
• Doctorate (S3) in Tafsir and Hadith from Al- declared effective by the Financial Services
Azhar University, Cairo, Egypt (1982). Authority (OJK) since January 10, 2019. Then
reappointed as Chairman of the Sharia
Supervisory Board for the second time at the
2023 General Meeting of Shareholders on March
Certification
16, 2023.
• Ijtima'Sanawi & DPS Annual Meeting IX (2024).
• Ijtima'Sanawi & DPS Annual Meeting VIII (2023).
• Ijtima'Sanawi & DPS-DSM MUI Workshop (2019).
Work Experience
• Chairman of the BTN Sharia Supervisory Board
(2019 - present).
Period of Office
• Founder and Member of the Council of Muslim
• March 23, 2018 - 2023 GMS, First Period Elders (2014 - present).
• March 16, 2023 - 2028 GMS, Second Period • Member of the Eminent Person Group
Indonesia Malaysia Person Group Indonesia
Malaysia (2010).
Concurrent Positions • Ambassador Extraordinary and
Plenipotentiary of Arabia, Egypt and Djibouti
• Founder and Member of the Council of Muslim
(1998 - 2002).
Elders (2014 - present).
• Minister of Religious Affairs of the Republic of
• Member of the Pentashih Al-Qur’an, Ministry of
Indonesia (1998).
Religious Affairs of the Republic of Indonesia
• Member of the National Research Council
(1989 - present).
(1995 - 1999).
• Member of the National Accreditation Board
(1994 - 1998).
Concurrent Positions • Director of Ulama Cadre Development MUI
in Other Public Companies (1994 - 1997).
Chairman of the Sharia Supervisory Board of the • Member of DPS Bank Muamalat (1992 - 1999).
Sharia Business Unit of PT Bank CIMB Niaga Tbk • Rector of IAIN Syarif Hidayatullah (1992 - 1998).
(2019 - present). • Member of the Pentashih Al-Qur'an, Ministry of
Religious Affairs of the Republic of Indonesia
(1989 - present).
• Member of the National Education Advisory
BTN Share Ownership Board (1988 - 1996).
As of December 31, 2024, • Member of the MPR-RI for the 1982-1987 period
does not own BBTN shares and the period (1987 - 2002).
• Chairman of the Central Indonesian Ulema
Council (MUI) (1985 - 1998).
• Vice Chancellor of IAIN Alauddin (1974 - 1980).
• Assistant Leader of the Coordinator of the East
Indonesian Police in the Mental Field (1973 -
1975).
• Coordinator of Private Islamic Higher
Education Institutions throughout East
Indonesia (Kopertis East Region) (1967 - 1980).
PT Bank Tabungan Negara (Persero) Tbk 157
Page 160
Company
Profile
Mohamad Bagus
Teguh Perwira, Lc, MA
Member of the Sharia Supervisory Board
Indonesian Citizen,
46 Years Old As of December 2024,
domiciled in Bekasi, Indonesia
Educational Background Legal Basis for Appointment
• Bachelor (S1) from the Faculty of Islamic Served as a Member of the Sharia Supervisory
Studies, Al-Azhar University, Cairo-Egypt Board for the first time since the results of
(1999). the Company's Annual General Meeting of
• Postgraduate (S2) Islamic Economics Study Shareholders (AGMS) dated March 10, 2021 and
Program, UIN Syarif Hidayatullah – Jakarta declared effective by the Financial Services
(2007). Authority (OJK) since June 2, 2021.
Certification Work Experience
• Ijtima’Sanawi & Annual Meeting DPS IX (2024). • Chairman of the Sharia Supervisory Board
• Ijtima’Sanawi & Annual Meeting DPS VIII of PT Manulife Asset Management Indonesia
(2023). (2022-present).
• Competency Assessor – BNSP (2017). • Member of the Sharia Supervisory Board of PT
• Sharia Supervisor Competency – Indonesian Bank Tabungan Negara, Tbk (Persero) (2021 -
Ulema Council Professional Certification present).
Institute (LSPMUI) (2016). • Deputy Secretary of the Daily Executive Board,
• License as Capital Market Sharia Expert National Sharia Council-Indonesian Ulema
(ASPM) – Financial Services Authority (OJK) Council (2020 - present).
(2016). • Member of the Sharia Supervisory Board of PT
• Qualified Wealth Planner (QWP) (2011). Bank Maybank Indonesia Tbk. (2020 -2024).
• Associate Estate Planning Practitioner (AEPP®) • Secretary of Capital Markets, Daily Executive
(2011). Board, National Sharia Council-Indonesian
• Certified Financial Planner (CFP®) (2010). Ulema Council (2015 - 2020).
• Chairman of the Sharia Supervisory Board of
DPLK BRI (2018 - 2019).
• Chairman of the Sharia Supervisory Board of
Period of Office
PT Aberdeen Standard Investment Indonesia
March 10, 2021 – 2026 GMS, First Period. (2015 - 2021).
• Chairman of the Sharia Supervisory Board of
PT Indosurya Asset Management (2015 - 2017).
Concurrent Positions • Trainer at DSN-MUI Institute (November 2017 -
present).
• Chairman of the Sharia Supervisory Board
• Member of the Sharia Supervisory Board of PT
of PT Manulife Asset Management Indonesia
OCBC NISP Tbk. (2009-present).
(2022-present).
• Member of the Sharia Supervisory Board of PT
• Deputy Secretary of the Daily Executive Board,
Schroder Investment Management Indonesia.
National Sharia Council-Indonesian Ulema
(2009 - 2022).
Council (2020 - present).
• Lecturer at Trisakti University (2009 - 2013).
• Head Planner at PT Quantum Magna (2007 -
2014).
Concurrent Positions • Lecturer at Muhammadiyah University Prof. Dr.
in Other Public Companies Hamka (2007 - 2009).
• Consultant at PT Batasa Tazkia (2004 - 2009).
Member of the Sharia Supervisory Board of PT
OCBC NISP Tbk. (2009-present).
BTN Share Ownership
As of December 31, 2024,
does not own BBTN shares
158 PT Bank Tabungan Negara (Persero) Tbk
Page 161
2024
Annual Report
Muhammad Faiz, Lc, MA
Member of the Sharia Supervisory Board
Indonesian Citizen,
50 Years Old As of December 2024,
domiciled in Jakarta, Indonesia
Educational Background Legal Basis for Appointment
• Bachelor (S1) Faculty of Sharia Islamic Served as a Member of the Sharia Supervisory
University of Madinah, Saudi Arabia (1997) Board for the first time based on the Decree
• Master (S2) Faculty of Daarul Ulum Cairo of the Financial Services Authority (OJK) on
University, Egypt (1999) October 18, 2023 and declared effective since
November 29, 2023.
Certification
• Ijtima’Sanawi & Annual Meeting DPS IX (2024). Work Experience
• Sharia Supervisory Board Certification Level 2 • Member of the Sharia Supervisory Board of PT
(2013). Bank Tabungan Negara, Tbk (Persero) (2023 -
• Sharia Supervisory Board Certification Level 1 present).
(2008). • Executive Board (PB) of Nahdlatul Ulama
(2022-present).
• Deputy Rais PW Nahdlatul Ulama DKI Jakarta
(2021-2022).
Period of Office
• Chairman of the Sharia Supervisory Board of
November 29, 2023 - GMS 2028, first period PT Bank Tabungan Pensiunan Nasional (BTPN)
Syariah (2017-present).
• Chairman of the Sharia Supervisory Board of
Concurrent Positions the Sharia Business Unit of PT Bank Permata,
Tbk. (2014-present).
• Executive Board (PB) Nahdlatul Ulama
• Chairman of the Sharia Supervisory Board of
(2022-present).
PT Indomobil Multi Finance Indonesia Syariah
• Chairman of the Sharia Supervisory Board of
(2012-present).
PT Bank Tabungan Pensiunan Nasional (BTPN)
• Deputy Secretary of the MUI Fatwa
Syariah (2017-present)
Commission (2010-present).
• Chairman of the Sharia Supervisory Board of
• Member of the Sharia Supervisory Board of
PT Indomobil Multi Finance Indonesia Syariah
the Sharia Business Unit of PT Bank Permata,
(2012-present)
Tbk. (2008-2014).
• Deputy Secretary of the MUI Fatwa
• Deputy Management of PP Daarul Rahman
Commission (2010-present).
(2008-present).
• Deputy Management of PP Daarul Rahman
(2008-present).
Concurrent Positions
in Other Public Companies
Chairman of the Sharia Supervisory Board of the
Sharia Business Unit of PT Bank Permata, Tbk.
(2014-present).
BTN Share Ownership
As of December 31, 2024,
does not own BBTN shares
PT Bank Tabungan Negara (Persero) Tbk 159
Page 162
Company
Profile
Affiliation of the Board of Sharia Supervisory
Table of Affiliation of the Board of Sharia Supervisory
Financial Relations, Family and Management of the Sharia Supervisory Board
Financial Relations With Family Relations With
Management
Board of Board of Controlling Board of Board of Controlling Relations
Name Position
Commissioners Directors Shareholders* Commissioners Directors Shareholders*
Yes No Yes No Yes No Yes No Yes No Yes No Yes No
Chairman
Prof. Dr. H.
of the
Muhammad
Sharia √ √ √ √ √ √ √
Quraish
Supervisory
Shihab, MA
Board
Mohamad
Member of
Bagus
the Sharia
Teguh √ √ √ √ √ √ √
Supervisory
Perwira, Lc,
Board
MA
Member of
Muhammad the Sharia
√ √ √ √ √ √ √
Faiz, Lc, MA Supervisory
Board
*Directly or indirectly
Changes in the Composition
of Members of the Sharia Supervisory Board and the Reasons for The Change
Throughout 2024, there were no changes in the Board and 2 (two) Members of the Sharia Supervisory
composition of the Sharia Supervisory Board. The Sharia Board. The composition and basis of appointment of the
Supervisory Board consists of 3 (three) members, Sharia Supervisory Board can be seen in the table below.
comprising 1 (one) Chairman of the Sharia Supervisory
Table of Composition and Basis of Appointment of the Sharia Supervisory Board
Executor of the
Name Position Basis of Appointment Period Fit and Proper Effective Date
Assessment
Prof. Dr. H. - January 10,
Muhammad - Annual GMS on March 23, 2018 2019
Chairman Second OJK
Quraish Shihab, - Annual GMS on March 16, 2023 - March 16,
MA 2023
Mohamad
Bagus Teguh Member Annual GMS on March 10, 2021 First OJK June 2, 2021
Perwira, Lc, MA
Muhammad November 29,
Member OJK Decree on October 18, 2023 First OJK
Faiz, Lc, MA 2023
160 PT Bank Tabungan Negara (Persero) Tbk
Page 163
2024
Annual Report
Profile of
Executive Offices
Senior Executive Vice President
Educational Background
• Bachelor (S1) in Industrial Engineering, Trisakti University, Jakarta (2002).
• Master (S2) in Business Administration, Bandung Institute of Technology, Bandung
(2005).
Certification
Banking Risk Management Level 7 by BSMR (2024).
Work Experience
• SEVP Wholesale Banking BTN (March 2021 – present).
• Corporate Banking Director PT Bank Negara Indonesia (Persero) Tbk (2020).
• General Manager, Local Corporate & Multinational Company 1 Division PT Bank
Negara Indonesia (Persero) Tbk (2018 – 2020).
• Deputy GM, BUMN & Government Institution Division PT Bank Negara Indonesia
(Persero) Tbk (2016 – 2017).
• Team Leader, BUMN & Government Institution Division PT Bank Negara Indonesia
(Persero) Tbk (2013 – 2016).
Benny Yoslim
SEVP Wholesale Banking Legal Basis for Appointment
Served as SEVP of the Company for the first time since March 1, 2021 based on
Indonesian Citizen,
the Decree of the Company’s Board of Directors Number 248/DIR/2021 dated
44 Years Old As of December 2024,
March 3, 2021.
domiciled in West Jakarta, Indonesia
BTN Share Ownership
As of December 31, 2024, owned 911,500 shares/0.0064947%
Educational Background
Bachelor (S1) in Economics, Islamic University of Indonesia, Yogyakarta (1991).
Certification
• Banking Risk Management Certification Level 7 by BSMR (Refreshment 2024).
• Executive Risk Management Refresher Program ESGRC by LPPI (2024).
• General Banking Refreshment Level 3 by LPPI (2022).
• International Risk Management Refreshment & Wealth Management Certification
Program by MMUGM and IBI (2022).
• Islamic Finance Leadership Program by Cambridge IFA (2019).
Work Experience
• SEVP Operations BTN (June 2022 – present).
• SEVP Human Capital BTN (January 2022 – June 2022).
• Sharia Business Division Head BTN (2020 – January 22).
• Sharia Division Head BTN (2019 – 2020).
• Commercial Risk Division Head BTN (2018 – 2019).
Alex Sofjan Noor
SEVP Operations Legal Basis for Appointment
Indonesian Citizen, Served as SEVP of the Company for the first time since January 03, 2022 based
58 years old as of December 2024, on the Decree of the Company's Board of Directors Number 06/DIR/2022
domiciled in West Jakarta, Indonesia dated January 04, 2022. Reappointed based on the Second Addendum to the
Employment Agreement Between PT Bank Tabungan Negara (Persero) Tbk dated
December 1, 2024.
BTN Share Ownership
As of December 31, 2024, owned 1,540,026 shares/0.0109732%
PT Bank Tabungan Negara (Persero) Tbk 161
Page 164
Company
Profile
Educational Background
• Bachelor (S1) in Economics, Atma Jaya University, Yogyakarta (1995).
• Masters (S2) in Management, Pelita Harapan University, Jakarta (2023).
Certification
Banking Risk Management Level 7 by BSMR (2024).
Work Experience
• SEVP Digital Business BTN (June 2024 – present).
• Group Head Transaction Banking Retail Sales PT Bank Mandiri (Persero) Tbk
(2016-2024).
• Commissioner of PT Mitra Transaksi Indonesia (2020 - 2024).
• Plt. Reg. Transaction Banking Head Jakarta PT Bank Mandiri (Persero) Tbk
(April 2016-September 2016).
• VP Electronic Banking Business Development PT Bank Mandiri (Persero) Tbk
(2011-March 2016).
Thomas Wahyudi • Commissioner PT Mitra Transaksi Indonesia (2020-present).
• President Commissioner PT Digital Artha Media (2018-2020).
SEVP Digital Business
• Electronic Channel Head - PT Bank OCBC NISP (2005-2011).
Indonesian Citizen, • Assistant Manager Electronic Banking Division - PT Bank Central Asia Tbk
51 Years Old As of December 2024, (1997-2005).
domiciled in Tangerang Regency, Indonesia
Legal Basis for Appointment
Served as SEVP of the Company for the first time since April 1, 2024 based on
the Decree of the Company's Board of Directors Number 374/DIR/2024 dated
April 1, 2024.
BTN Share Ownership
As of December 31, 2024, owned 268,500 shares/0.0019132%
Profile of Officers One Level Under the Board of Directors
Indonesian Citizen, 50 Years Old As of December,
domiciled in South Tangerang, Indonesia
Educational Background
• Diploma (D3) in Accounting from the State Accountancy College (STAN) (1995).
• Bachelor (S1) in Accounting from the University of Indonesia (1998).
• Master (S2) in Accounting from the University of Queensland (2003).
Work Experience
• 2021 served as Internal Audit Division Head of the Company.
• 2020 served as Post Mortem & Forensic Audit Division Head at Indonesia Exim
Bank.
• 2011 served as Fraud Risk Management Division Head at Indonesia Exim Bank.
Term of Office
Served since: July 26, 2021
Hendratno Tri Wibowo
Internal Audit Division Head Legal Basis for Appointment
215/M/HCMD/TAC/VII/2021
162 PT Bank Tabungan Negara (Persero) Tbk
Page 165
2024
Annual Report
Indonesian Citizen, 52 Years Old As of December,
domiciled in Central Jakarta, Indonesia
Educational Background
Bachelor (S1) in Accounting from the Islamic University of Indonesia (1994)
Work Experience
• 2024 served as PJ Treasury Division Head.
• 2022 served as Deputy Division Head
• 2021 served as Trading Department Head
• 2019 served as Market & Reserve Management Dept Head
• 2017 served as Trading Management Department Head
Term of Office
Served since: July 8, 2024
Legal Basis for Appointment
Nur Khasanah
Decree No. 630/DIR/2024
Acting Treasury Division Head
Indonesian Citizen, 54 Years Old As of December,
domiciled in Bogor, Indonesia
Educational Background
• Bachelor (S1) in Mineral Technology from Universitas Pembangunan Nasional
Veteran Yogyakarta (1993).
• Master (S2) in Financial Management from UGM & University of Kentucky USA
(2004).
Work Experience
• 2023 served as Service Quality & Distribution Division Head.
• 2021 served as Retail Funding & Services Division Head.
• 2021 served as Regional Office Head I (West Java).
• 2020 served as Regional Office Head VI (Central Java).
• 2018 served as Retail Funding & Services Division Head.
Term of Office
Ferry Sipahutar Served since: May 13, 2024
Sales & Distribution Division Head
Legal Basis for Appointment
Decree No. 552/DIR/2024
Indonesian citizen, 54 Years Old As of December,
domiciled in Jakarta, Indonesia
Educational Background
Bachelor (S1) in Agriculture from Jenderal Soedirman University (1994).
Work Experience
• 2023 served as Marketing Communication Division Head
• 2020 served as Branding & Product Marketing Department Head
Term of Office
Served since: April 14, 2023
Legal Basis for Appointment
Decree No. 230/DIR/2023
Farida Andriani W
Marketing Communication
Division Head
PT Bank Tabungan Negara (Persero) Tbk 163
Page 166
Company
Profile
Indonesian Citizen, 50 Years Old As of December,
domiciled in Jakarta, Indonesia
Educational Background
• Ilmu sosial/Administrasi dari Universitas Indonesia (1996)
• Master of Commerce from The University of Sydney (1998).
Work Experience
• 2023 served as Corporate Secretary Division Head
• 2020 served as Marketing Communication Division Head
• 2020 concurrently served as Digital Channel Division Head
Term of Office
Served since: April 14, 2023
Legal Basis for Appointment
Ramon Armando Decree No. 230/DIR/2023
Corporate Secretary Division Head
Indonesian Citizen, 51 Years Old As of December,
domiciled in Jakarta, Indonesia
Educational Background
• Bachelor (S1) in Civil Engineering from Hasanuddin University (1996).
• Master (S2) in Business Administration from Bandung Institute of Technology
(2012).
Work Experience
• 2022 served as Human Capital Management Division
• 2021 served as Sharia Funding & Treasury Deputy
• 2021 served as Sharia Business Deputy
• 2016 served as Branch Manager Sharia Jakarta Pasar Minggu
Term of Office
Served since: February 14, 2022
Rahmayati Legal Basis for Appointment
Human Capital Management Decree No. 124/DIR/2022
Division Head
Indonesian Citizen, 53 Years Old As of December,
domiciled in Jakarta, Indonesia
Educational Background
• Bachelor (S1) in Plant Pests and Diseases from Bogor Agricultural Institute (1996).
• Master (S2) in Human Resource Management from PPM Management College
(2003).
Work Experience
• 2023 served as Human Capital Business Partner Division Head
• 2021 served as Human Capital Strategy Division Head
Term of Office
Served since: November 1, 2023
Legal Basis for Appointment
Aloysius Wilhelmus Decree No. 953/DIR/2023
Junior Bakowatun
Human Capital Business Partner
Division Head
164 PT Bank Tabungan Negara (Persero) Tbk
Page 167
2024
Annual Report
Indonesian Citizen, 34 Years Old As of December,
domiciled in Depok, Indonesia
Educational Background
• Bachelor (S1) in Agricultural Industrial Technology from Bogor Agricultural
Institute (2012).
• Master (S2) in Human Resource and Organizational Management from The
London School of Economics & Political Science (2021).
Work Experience
• 2023 served as Human Capital Strategy Division Head
Term of Office
Served since: November 6, 2023
Legal Basis for Appointment
Aldo Bimantoro MEMO No. 590/M/HCMD/TAC/XI/2023
Human Capital Strategy Division Head
Indonesian Citizen, 52 Years Old As of December,
domiciled in South Tangerang, Indonesia
Educational Background
• Bachelor (S1) in Economics from Padjadjaran University (1996).
• Master (S2) in Management from the Institute of Finance, Banking and
Informatics Asia Perbanas (2009).
Work Experience
• 2023 served as Learning Management Division Head
• 2022 served as PJ Learning Management Division Head
• 2022 served as PJ Learning Center Division Head
• 2021 served as Employee Development Department Head
Term of Office
Served since: February 1, 2023
Ade Surya Lesmana Legal Basis for Appointment
Learning Management Division Head Decree No. 46/DIR/2023
Indonesian citizen, 52 Years Old As of December,
domiciled in West Jakarta, Indonesia
Educational Background
Bachelor (S1) in Economics from Jenderal Soedirman University (1996).
Work Experience
• 2024 served as Finance & Accounting Division Head
• 2023 served as Regional Office Head III (East Java)
• 2022 served as DRM Business Regional Office III (East Java)
• 2020 served as DRM Support Regional Office III (East Java)
• 2019 served as Accounting Policy, Planning & Service Department Head
Term of Office
Served since: November 1, 2024
Legal Basis for Appointment
Yenny Herlina
Decree No. 971/DIR/2024
Finance & Accounting Division Head
PT Bank Tabungan Negara (Persero) Tbk 165
Page 168
Company
Profile
Indonesian Citizen, 52 Years Old As of December,
domiciled in West Jakarta, Indonesia
Educational Background
• Bachelor (S1) in Development Economics from Gadjah Mada University (1996).
• Masters (S2) in Management from Gadjah Mada University (2004).
Work Experience
• 2021 served as Enterprise & ESG Risk Management Division Head
• 2019 served as Procurement & General Services Division Head
• 2017 served as Transformation Management Office Division Head
Term of Office
Served since: June 2, 2021
Legal Basis for Appointment
Wilson Arafat Decree No. 525/DIR/2021
Enterprise & ESG Risk Management
Division Head
Indonesian citizen, 44 Years Old As of December,
domiciled in Jakarta, Indonesia
Educational Background
Bachelor's degree in Computer Science from Universitas Gajah Mada (2003).
Work Experience
2021 served as IT Strategic Planning & Development Division Head
Term of Office
Served since: July 29, 2021
Legal Basis for Appointment
SPK No. 29/PK/PRO/HCMD/TAC/V/2021
Joko Christianto
IT Strategic Planning &
Development Division Head
Indonesian citizen, 48 Years Old As of December,
domiciled in South Tangerang, Indonesia
Educational Background
Bachelor (S1) in Physics from Bandung Institute of Technology (2001).
Work Experience
• 2024 served as IT Operations Division Head
• 2021 served as Data Management & Analytics Division Head
Term of Office
Served since: December 1, 2024
Legal Basis for Appointment
Decree No. 1033/DIR/2024
Indra Hidayatullah
IT Operations Division Head
166 PT Bank Tabungan Negara (Persero) Tbk
Page 169
2024
Annual Report
Indonesian citizen, 44 Years Old As of December,
domiciled in Jakarta, Indonesia
Educational Background
Bachelor (S1) in Electrical Engineering from Bandung Institute of Technology (2003).
Work Experience
2022 served as IT Security Division Head
Term of Office
Served since: December 15, 2022
Legal Basis for Appointment
SPK No. 29/PK/PRO/HCMD/TAC/XI/2022
Budi Hariyanto
IT Security Division Head
Indonesian Citizen, 55 Years Old As of December,
domiciled in Jakarta, Indonesia
Educational Background
• Bachelor (S1) in Electrical Engineering from Bandung Institute of Technology (1993).
• Master (S2) in Electrical Engineering from Bandung Institute of Technology (1996).
Work Experience
• 2024 served as Data Management & Analytics Division Head
• 2023 served as PJ IT Operations Division Head
• 2021 served as Deputy IT Strategic Planning & Development
Term of Office
Served since: December 1, 2024
Legal Basis for Appointment
Danny Sutanto Decree No. 1033/DIR/2024
Data Management &
Analytics Division Head
Indonesian Citizen, 53 Years Old As of December,
domiciled in Bekasi, Indonesia
Educational Background
• Bachelor (S1) in Management Economics from Jenderal Soedirman University
(1995).
• Master (S2) in Management from STIE Indonesia Banking School (2019).
Work Experience
• 2023 served as Procurement & Fixed Asset Management Division Head
• 2021 served as IT Operations Division Head
• 2019 served as PJ. IT Operations Division Head
Term of Office
Served since: August 3, 2023
Legal Basis for Appointment
Wahyudi Joko Santoso
Decree No. 625/DIR/2023
Procurement & Fixed Asset
Management Division Head
PT Bank Tabungan Negara (Persero) Tbk 167
Page 170
Company
Profile
Indonesian citizen, 52 Years Old As of December,
domiciled in Bekasi, Indonesia
Educational Background
Bachelor (S1) in Development Economics from Sebelas Maret University (1995).
Work Experience
• 2024 served as Digital Operations Division Head
• 2018 served as Operations & Business Support Division Head
• 2017 served as PLT Operation & Business Support Division Head
• 2016 served as Digital Banking Development Department Head
Term of Office
Served since: January 15, 2024
Legal Basis for Appointment
Adee Indriana D Decree No. 11/DIR/2024
Digital Operations Division Head
Indonesian Citizen, 51 Years Old As of December,
domiciled in South Tangerang, Indonesia
Educational Background
• Bachelor (S1) in Architectural Engineering from Diponegoro University (1996).
• Master (S2) in Management from Gadjah Mada University (2004).
Work Experience
• 2024 served as Customer Experience Division Head
• 2022 served as Customer Care Division Head
• 2020 served as Corporate Communication Department Head
Term of Office
Served since: April 16, 2024
Legal Basis for Appointment
Eko Hapsoro Susilo Decree No. 393/DIR/2024
Customer Experience Division Head
Indonesian citizen, 52 Years Old As of December,
domiciled in Jakarta, Indonesia
Educational Background
Bachelor (S1) in Accounting from Dr. Moechtar Talib School of Economics (1995).
Work Experience
• 2024 served as Central Operation Division Head
• 2023 served as Finance & Accounting Division Head
• 2022 served as PJ Finance & Accounting Division Head
Term of Office
Served since: November 1, 2024
Legal Basis for Appointment
Decree No. 971/DIR/2024
Fatoni Hudhori
Central Operation Division Head
168 PT Bank Tabungan Negara (Persero) Tbk
Page 171
2024
Annual Report
Indonesian citizen, 52 Years Old As of December,
domiciled in Bekasi, Indonesia
Educational Background
Bachelor (S1) in Civil Engineering from Bandung Institute of Technology (1995).
Work Experience
• 2022 served as Sharia Banking Division Head
• 2021 served as Human Capital Management Division Head
• 2020 served as Commercial Business Center Head
Term of Office
Served since: January 3, 2022
Legal Basis for Appointment
Decree No. 01/DIR/2022
Abdul Firman
Sharia Banking Division Head
Indonesian Citizen, 54 Years Old As of December,
domiciled in Bekasi, Indonesia
Educational Background
• Bachelor (S1) in Accounting from Padjadjaran University (1993).
• Master (S2) in Financial Management from UGM & University of Kentucky USA
(2004).
Work Experience
• 2024 served as Financial Institution & Capital Market Division Head
• 2019 served as Compliance & Governance Division Head
• 2018 served as PLT Compliance & Governance Division Head
• 2018 served as Deputy Internal Audit Division Head
Term of Office
Served since: January 15, 2024
R. Wahyu B. Witjaksono Legal Basis for Appointment
Financial Institution & Decree No. 11/DIR/2024
Capital Market Division Head
Indonesian Citizen, 54 Years Old As of December,
domiciled in Serpong, Indonesia
Educational Background
• Bachelor (S1) in Management from Brawijaya University (1996).
• Master (S2) in Management from University of Indonesia (2005).
Work Experience
• 2024 served as Compliance & Governance Division Head
• 2023 served as Regional Office Head VI (Central Java)
• 2022 served as Regional Office Head V (Sulawesi)
• 2021 served as Deputy Regional Manager Business, Regional Office V (Sulawesi)
• 2020 served as Branch Manager KC Surabaya
• 2018 served as Branch Manager KC Denpasar
Term of Office
Served since: January 15, 2024
Harman Soesanto
Compliance & Governance Legal Basis for Appointment
Division Head Decree No. 11/DIR/2024
PT Bank Tabungan Negara (Persero) Tbk 169
Page 172
Company
Profile
Indonesian Citizen, 41 Years Old As of December,
domiciled in Tangerang, Indonesia
Educational Background
• Bachelor (S1) in Computer Science from Bina Nusantara University (2001).
• Master (S2) in Management, Bina Nusantara University (2006).
Work Experience
2021 served as Digital Channel Division Head
Term of Office
Menjabat sejak: 16 Juli 2021
Served since: July 16, 2021
Decree No. 595/DIR/2021
Tan Jacky Chen
Digital Banking Product
Development Division Head
Indonesian Citizen, 41 Years Old As of December,
domiciled in Tangerang, Indonesia
Educational Background
• Bachelor (S1) in Computer Science from Bina Nusantara University (2001).
• Master (S2) in Management, Bina Nusantara University (2006).
Work Experience
2021 served as Digital Channel Division Head
Term of Office
Menjabat sejak: 16 Juli 2021
Served since: July 16, 2021
Decree No. 595/DIR/2021
Tan Jacky Chen
Digital Banking Sales Division Head
Indonesian citizen, 51 Years Old As of December,
domiciled in Jakarta, Indonesia
Educational Background
Bachelor (S1) in Economics from the Islamic University of Indonesia (1995).
Work Experience
• 2024 served as Corporate Banking Division Head
• 2020 served as Commercial Banking Division Head
• 2018 served as Corporate & Loan Syndication Department Head
Term of Office
Served since: October 1, 2024
Legal Basis for Appointment
Decree No. 941/DIR/2024
Sri Astuti
Corporate Banking Division Head
170 PT Bank Tabungan Negara (Persero) Tbk
Page 173
2024
Annual Report
Indonesian citizen, 53 Years Old As of December,
domiciled in Bogor, Indonesia
Educational Background
Bachelor (S1) in Management from Bandar Lampung University (1994).
Work Experience
• 2024 served as Commercial Banking Division Head
• 2021 served as Corporate Syndication & Transaction Banking Division Head
• 2020 served as Deputy Internal Audit Division Head
Term of Office
Served since: October 1, 2024
Legal Basis for Appointment
Decree No. 941/DIR/2024
Ricky RS Pattinggi
Commercial Banking Division Head
Indonesian citizen, 53 Years Old As of December,
domiciled in South Tangerang, Indonesia
Educational Background
Bachelor (S1) in Industrial Engineering from the University of North Sumatra (1996).
Work Experience
• 2024 served as Large Institutional Funding Division Head
• 2022 served as Institutional Funding Division Head
• 2021 served as PJ Institutional Funding Division Head
Term of Office
Served since: August 3, 2023
Legal Basis for Appointment
Decree No. 627/DIR/2023
Erwinta Siswadi
Large Institutional Funding
Division Head
Indonesian Citizen, 55 Years Old As of December,
domiciled in South Tangerang, Indonesia
Educational Background
• Bachelor (S1) in Economics from Padjadjaran University (1991).
• Master (S2) in Strategic Management from ABFI Perbanas (2016).
Work Experience
• 2024 served as Midsize Institution Funding Division Head
• 2023 served as Deputy Regional Manager Business, Regional Office Jateng DIY
• 2023 served as Branch Manager KC Tangerang
• 2020 served as Branch Manager KC Jakarta Kuningan
Term of Office
Served since: August 1, 2024
Legal Basis for Appointment
Denny Kriswana
Decree No. 711/DIR/2024
Midsize Institution Funding
Division Head
PT Bank Tabungan Negara (Persero) Tbk 171
Page 174
Company
Profile
Indonesian citizen, 55 Years Old As of December,
domiciled in Jakarta, Indonesia
Educational Background
Bachelor of Law from Udayana University (1993).
Work Experience
• 2021 served as Credit Operations Division Head
• 2021 served as PJ Credit Operations Division Head
• 2019 served as Branch Manager Bekasi
• 2018 served as Deputy Regional Manager Business, Regional Office III (East Java)
Term of Office
Served since: August 16, 2021
Legal Basis for Appointment
I Gusti Agung Decree No. 756/DIR/2021
Komang Tri Martha W
Credit Operations Division Head
Indonesian citizen, 49 Years Old As of December,
domiciled in Jakarta, Indonesia
Educational Background
Bachelor (S1) in Finance & Economics from University of Oregon (1996).
Work Experience
• 2024 served as Retail Funding Division Head
• 2020 served as Wealth Management Division Head
Term of Office
Served since: March 01, 2024
Legal Basis for Appointment
SPK No. 188/DIR/2024
Frengky Rosadrian
Peranginangin
Retail Funding Division Head
Indonesian Citizen, 54 Years Old As of December,
domiciled in Jakarta, Indonesia
Educational Background
• Bachelor (S1) in Development Economics from Padjadjaran University (1995).
• Master (S2) in Management from Gadjah Mada University (2004).
Work Experience
• 2023 served as Mortgage and Secured Loan Division Head
• 2019 served as Subsidized Mortgage Lending Division Head
• 2018 served as Roll Out Project Lead
Term of Office
Served since: February 01, 2023
Legal Basis for Appointment
Mochamad Yut Penta Decree No. 46/DIR/2023
Mortgage & Secured Loan
Division Head
172 PT Bank Tabungan Negara (Persero) Tbk
Page 175
2024
Annual Report
Indonesian citizen, 48 Years Old As of December,
domiciled in Jakarta, Indonesia
Educational Background
Bachelor (S1) in Socio-Economics of Fisheries from Brawijaya University (2000).
Work Experience
2023 served as Personal Banking Division Head
Term of Office
Served since: August 09, 2023
Legal Basis for Appointment
Decree No. 103/DIR/2024
Nurkholis Wahyudi
Personal Banking Division Head
Indonesian citizen, 52 Years Old As of December,
domiciled in Jakarta, Indonesia
Educational Background
Bachelor (S1) in Economics from Syiah Kuala University (1997).
Work Experience
• 2023 served as Subsidized Mortgage Division Head
• 2021 served as Small Medium Enterprise Banking Division Head
• 2020 served as Retail Credit Risk Division Head
• 2020 served as Consumer Collection, Recovery & Asset Sales Division Head
Term of Office
Served since: November 1, 2023
Legal Basis for Appointment
Budi Permana Decree No. 954/DIR/2023
Subsidized Mortgage Division Head
Indonesian citizen, 54 Years Old As of December,
domiciled in Tangerang, Indonesia
Educational Background
Bachelor (S1) in Civil Engineering from the University of North Sumatra (1996).
Work Experience
• 2023 served as Small Medium Enterprise Banking Division Head
• 2023 served as Deputy Subsidized Mortgage Division
• 2023 served as Branch Manager of KC Bekasi
• 2020 served as Branch Manager of KC Tangerang
Term of Office
Served since: November 1, 2023
Legal Basis for Appointment
Decree No. 954/DIR/2023
Roganda Sahat
Mangapul Siahaan
Small Medium
Enterprise Banking Division Head
PT Bank Tabungan Negara (Persero) Tbk 173
Page 176
Company
Profile
Indonesian Citizen, 52 Years Old As of December,
domiciled in Tangerang, Indonesia
Educational Background
• Bachelor of Law from Wijaya Kusuma University Purwokerto (1995).
• Master of Financial Management from UGM & University of Kentucky USA (2004).
Work Experience
• 2024 served as Corporate Strategy & Planning Division Head
• 2021 served as Financial Institution & Capital Market Division Head
Term of Office
Served since: January 15, 2024
Legal Basis for Appointment
Decree No. 11/DIR/2024
Hasta Nugraha Utomo
Corporate Strategy & Planning
Division Head
Indonesian Citizen, 45 Years Old As of December,
domiciled in Jakarta, Indonesia
Educational Background
• Bachelor (S1) in Civil Engineering from Institut Teknologi Sepuluh November (2002).
• Master (S2) in Business Administration from Universitas Gadjah Mada (2023).
Work Experience
• 2023 served as Consumer Collection, Recovery & Asset Sales 1 Division Head
• 2020 served as Transformation Partnership Management Division Head
• 2019 served as Enterprise Risk Management Division Head
• 2017 served as Retail Risk Division Head
Term of Office
Served since: June 5, 2023
Legal Basis for Appointment
Erwin Dwi Kusuma
Decree No. 396/DIR/2023
Consumer Collection, Recovery &
Asset Sales 1 Division Head
Indonesian citizen, 43 Years Old As of December,
domiciled in Jakarta, Indonesia
Educational Background
Bachelor (S1) in Agricultural Socioeconomics from Bogor Agricultural Institute (2004).
Work Experience
• 2024 served as Acting Consumer Collection, Recovery & Asset Sales 2 Division
Head
• 2023 served as Middle Bucket Department Head
Term of Office
Served since: February 1, 2024
Legal Basis for Appointment
Decree No. 57/DIR/2024
Bramantyo Tri Adi Nugroho
Pj Consumer Collection, Recovery &
Asset Sales 2 Division Head
174 PT Bank Tabungan Negara (Persero) Tbk
Page 177
2024
Annual Report
Indonesian citizen, 55 Years Old As of December,
domiciled in Jakarta, Indonesia
Educational Background
Bachelor (S1) in Accounting Economics from Sebelas Maret University (1993).
Work Experience
• 2024 served as Commercial Asset Management Division Head
• 2021 served as Regional Office Head IV (Sumatera)
• 2021 served as Branch Manager KC Makassar
• 2019 served as Commercial Asset Management 1 Division Head
• 2018 served as Branch Manager KC Banjarmasin
Term of Office
Served since: March 01, 2024
Legal Basis for Appointment
M. Amin Sholeh
Decree No. 99/DIR/2024
Commercial Asset Management
Division Head
Indonesian citizen, 52 Years Old As of December,
domiciled in Jakarta, Indonesia
Educational Background
Bachelor of Law from Padjadjaran University (1996).
Work Experience
• 2024 served as Legal Division Head
• 2023 served as Commercial Asset Management Division Head
• 2022 served as Commercial Asset Management 1 Division Head
• 2020 served as Corporate Secretary Division Head
Term of Office
Served since: February 19, 2024
Legal Basis for Appointment
Ari Kurniaman Decree No. 99/DIR/2024
Legal Division Head
Indonesian Citizen, 55 Years Old As of December,
domiciled in Tangerang, Indonesia
Educational Background
• Bachelor (S1) in Economics from the University of Indonesia (1996).
• Masters (S2) Master of Economic Studies from the University of Queensland
Australia (2002).
Work Experience
• 2020 served as Investor Relations & Research Division Head and Chief Economist
• 2018 served as Investor Relations Department Head and Chief Economist
Term of Office
Served since: February 1, 2020
Legal Basis for Appointment
Winang Budoyo Decree No. 37/DIR/2020
Investor Relations &
Research Division Head
PT Bank Tabungan Negara (Persero) Tbk 175
Page 178
Company
Profile
Indonesian citizen, 51 Years Old As of December,
domiciled in Jakarta, Indonesia
Educational Background
Bachelor (S1) in Environmental Engineering from Bandung Institute of Technology
(1996).
Work Experience
• 2021 served as Retail Credit Risk Division Head
• 2018 served as Corporate Strategy & Performance Management Division Head
Term of Office
Served since: July 1, 2021
Legal Basis for Appointment
Decree No. 596/DIR/2021
Beki Kanuwa
Retail Credit Risk Division Head
Indonesian citizen, 53 Years Old As of December,
domiciled in Jakarta, Indonesia
Educational Background
Bachelor (S1) in Agricultural Engineering from Gajah Mada University (1996).
Work Experience
• 2023 served as Wholesale Credit Risk Division Head
• 2021 served as Commercial Risk Division Head
• 2020 served as Branch Manager Jakarta Cawang
• 2018 served as Branch Manager Ciputat
Term of Office
Served since: August 3, 2023
Legal Basis for Appointment
Henri Ari Wibawa Decree No. 627/DIR/2023
Wholesale Credit Risk Division Head
Indonesian Citizen, 55 Years Old As of December,
domiciled in Bekasi, Indonesia
Educational Background
• Bachelor (S1) in Industrial Engineering from Pasundan University (1994).
• Master (S2) in Business Administration from Gajah Mada University (2019).
Work Experience
• 2019 served as Policy, Procedure & BPR Division Head
• 2019 served as Policy & Procedure Desk Head
• 2018 served as Acting. Policy & Procedure Desk Head
Term of Office
Served since: September 16, 2019
Legal Basis for Appointment
L. Esti Dwi Retnosari Decree No. 998/DIR/2019
Policy & Procedure Division Head
176 PT Bank Tabungan Negara (Persero) Tbk
Page 179
2024
Annual Report
Indonesian citizen, 53 Years Old As of December,
domiciled in Bogor, Indonesia
Educational Background
Bachelor (S1) in Management from Bandar Lampung University (1994).
Work Experience
• 2024 served as Wholesale Transaction Division Head
• 2024 served as Commercial Banking Division Head
• 2021 served as Corporate Syndication & Transaction Banking Division Head
• 2020 served as Deputy Internal Audit Division Head
Term of Office
Served since: June 5, 2024
Legal Basis for Appointment
Ricky RS Pattinggi Decree No. 587/DIR/2024
Wholesale Transaction Division Head
Indonesian citizen, 44 Years Old As of December,
domiciled in Cinere, Indonesia
Educational Background
Masters (S2) in Financial Economics from University of Birmingham UK (2004).
Work Experience
2024 served as Wealth Management Division Head
Term of Office
Served since: March 01, 2024
Legal Basis for Appointment
Decree No. 360/DIR/2024
Meru Arumdalu
Wealth Management Division Head
Indonesian citizen, 45 Years Old As of December,
domiciled in Jakarta, Indonesia
Educational Background
Bachelor (S1) in Industrial Engineering from the University of Indonesia (2001).
Work Experience
2024 served as Transformation & Partnership Management Division Head
Term of Office
Served since: April 22, 2024
Legal Basis for Appointment
Decree No. 404/DIR/2024
Erika
Transformation & Partnership
Management Division Head
PT Bank Tabungan Negara (Persero) Tbk 177
Page 180
Company
Profile
Indonesian citizen, 54 Years Old As of December,
domiciled in Bekasi, Indonesia
Educational Background
Bachelor (S1) in Civil Engineering from Sebelas Maret University (1994).
Work Experience
• 2024 served as Digital & Operations Risk Management Division Head
• 2024 served as Pj Digital & Operations Risk Management Division Head
• 2023 served as Deputy Commercial Risk Division
• 2021 served as Branch Manager Bekasi
Term of Office
Served since: August 1, 2024
Legal Basis for Appointment
Agus Sumaryono Decree No. 711/DIR/2024
Digital & Operations Risk
Management Division Head
Indonesian citizen, 57 Years Old As of December,
domiciled in Jakarta, Indonesia
Educational Background
Bachelor (S1) in Development Economics from the University of Lampung (1990).
Work Experience
• 2024 served as Head of the Sharia Development Strategy Team (TSPS)
• 2021 served as Corporate Strategy & Performance Management Division Head
• 2020 served as Retail Funding & Service Division Head
• 2019 served as Branch Manager of Bandung Branch Office
• 2017 served as Strategy Planning Department Head
Term of Office
Served since: August 1, 2024
Legal Basis for Appointment
Kusumarjono
Decree No. 711/DIR/2024
Head of Sharia Development
Strategy Team (TSPS)
Indonesian citizen, 54 Years Old As of December,
domiciled in Bekasi, Indonesia
Educational Background
Bachelor (S1) in Management from the University of North Sumatra (1993).
Work Experience
• 2022 served as Regional Office Head of West Java Regional Office
• 2021 served as Commercial Asset Management 1 Division Head
• 2020 served as PJ Commercial Risk Division Head
• 2019 served as PJ Regional Office Head IV (Sumatera)
• 2018 served as Branch Manager Bekasi
Term of Office
Served since: July 11, 2022
Legal Basis for Appointment
Benjamen Sihombing
Decree No. 710/DIR/2022
Regional Office Head
West Java Regional Office
178 PT Bank Tabungan Negara (Persero) Tbk
Page 181
2024
Annual Report
Indonesian Citizen, 53 Years Old As of December,
domiciled in Jakarta, Indonesia
Educational Background
• Bachelor (S1) in Management Economics from the Christian University of
Indonesia (1994).
• Master (S2) in Management from Jayabaya University (2016).
Work Experience
• 2024 served as Regional Office Head of Jakarta I Regional Office
• 2024 served as PJ Regional Office Head of Jakarta I Regional Office
• 2023 served as Deputy Regional Manager Business, Regional Office IV
(Sumatera)
• 2022 served as Branch Manager Jakarta Harmoni
Term of Office
Served since: August 1, 2024
Tiana Elma Hetty
Regional Office Head Legal Basis for Appointment
Jakarta I Regional Office Decree No. 711/DIR/2024
Indonesian Citizen, 52 Years Old As of December,
domiciled in Jakarta, Indonesia
Educational Background
Bachelor (S1) in Management Economics from the University of North Sumatra (1994).
Work Experience
• 2024 served as Regional Office Head of Jakarta II Regional Office
• 2024 served as PJ Regional Office Head VI (East Java - DIY)
• 2022 served as Deputy Regional Manager Business, Regional Office I (West Java)
• 2021 served as Branch Manager Jakarta Harmoni
Term of Office
Served since: November 1, 2024
Legal Basis for Appointment
Sri Soekminiarni Decree No. 971/DIR/2024
Regional Office Head
Jakarta II Regional Office
Indonesian citizen, 55 Years Old As of December,
domiciled in Semarang, Indonesia
Educational Background
Bachelor (S1) in Accounting Economics from Sebelas Maret University (1994).
Work Experience
• 2024 served as PJ Regional Office Head of Central Java DIY Regional Office
• 2023 served as Deputy Commercial Asset Management
• 2022 served as Deputy Commercial Banking
• 2020 served as Commercial Asset Document Department Head
Term of Office
Served since: November 1, 2024
Legal Basis for Appointment
Waluyo Decree No. 971/DIR/2024
PJ Regional Office Head
DIY Central Java Regional Office
PT Bank Tabungan Negara (Persero) Tbk 179
Page 182
Company
Profile
Indonesian Citizen, 55 Years Old As of December,
domiciled in Surabaya, Indonesia
Educational Background
• Bachelor (S1) in Management Economics from Sebelas Maret University (1994).
• Master (S2) in Human Resource Management from Udayana University (2007).
Work Experience
• 2024 served as PJ Regional Office Head of East Java Bali Nusra Regional Office
• 2024 served as Deputy Regional Manager Business, Regional Office I (West Java)
• 2023 served as Branch Manager Kelapa Gading Square
Term of Office
Served since: November 1, 2024
Legal Basis for Appointment
Surasta Decree No. 971/DIR/2024
PJ Regional Office Head
East Java Bali Nusra Regional Office
Indonesian citizen, 53 Years Old As of December,
domiciled in Makassar, Indonesia
Educational Background
Bachelor (S1) in Mining Engineering from Bandung Institute of Technology (1995).
Work Experience
• 2023 served as Regional Office Head of Sulawesi Maluku Papua Regional Office
• 2021 served as Commercial Asset Management 2 Division Head
• 2020 served as PLT Regional Office Head III (East Java)
• 2019 served as Deputy Regional Manager Business, Regional Office III (East Java)
Term of Office
Served since: June 5, 2023
Legal Basis for Appointment
Paulus Hes Decree No. 429/DIR/2023
Regional Office Head
Sulawesi Maluku Papua Regional Office
Indonesian Citizen, 52 Years Old As of December,
domiciled in Medan, Indonesia
Educational Background
Bachelor (S1) in Civil Engineering from the Islamic University of Indonesia (1996).
Work Experience
• 2024 served as Regional Office Head of the Sumatra Regional Office
• 2024 served as PJ Regional Office Head of the Sumatra Regional Office
• 2022 served as Deputy Mortgage & Secured Loan Division
• 2021 served as Branch Manager of Kelapa Gading Square
Term of Office
Served since: November 1, 2024
Legal Basis for Appointment
Dedy Lesmana Decree No. 971/DIR/2024
Regional Office Head
Sumatra Regional Office
180 PT Bank Tabungan Negara (Persero) Tbk
Page 183
2024
Annual Report
Indonesian Citizen, 55 Years Old As of December,
domiciled in Balikpapan, Indonesia
Educational Background
Bachelor (S1) in Agricultural Technology from Gadjah Mada University in 1995.
Work Experience
• 2024 served as Regional Office Head of Kalimantan Regional Office
• 2024 served as PJ Regional Office Head of Kalimantan Regional Office
• 2023 served as Deputy Regional Manager Business, Regional Office I (Jakarta)
• 2022 served as Deputy Regional Manager Business, Regional Office V (Sulawesi)
• 2021 served as Branch Manager Makassar
Term of Office
Served since: August 1, 2024
Legal Basis for Appointment
Hery Sarjito
Decree No. 711/DIR/2024
Regional Office Head
Kalimantan Regional Office
Officers Two Levels Below The Board Of Directors
Name Work unit Job Title
DIVISION
Lusiana Anjarsari Internal Audit Division Deputy Internal Audit Division Head
IT Strategic Planning &
Hatorangan David Hutajulu Deputy IT Strategic Planning & Development
Development Division
Ghulam Mahdi Muharram IT Operations Division Deputy IT Operations
Romeo Daniel Mekenru Van Enst Mortgage & Secure Loan Division Deputy Mortgage & Secured Loan Division
Katon Djoko Soekarsono Sharia Banking Division Sharia Information Technology Deputy
Ide Kusuma Pribadi Sharia Banking Division Sharia Financing Business Deputy
Cuk Hidayat Sharia Banking Division Sharia Operations & Asset Management Deputy
Asvianti Handaru W. Sharia Banking Division Sharia Funding Business Deputy
Achmad Zuchridin Commercial Banking Division Deputy Commercial Banking
Paulus Puspo Priyanto Credit Operations Division Deputy Credit Operations
Noor Ridlo Subsidized Mortgage Division Deputy SMD
Commercial Asset Management
Wiyaksono Deputy Commercial Asset Management
Division
Didi Rusliyadi Wholesale Credit Risk Division Deputy Wholesale Credit Risk
REGIONAL OFFICE
Fitri Novianty Ratna K Jakarta Regional Office I Deputy Regional Manager Business Office of Jakarta I
Deputy Regional Manager Service & Collection Office of
M.Takdir Munir Jakarta Regional Office I
Jakarta I
Daulat Marpaung Jakarta Regional Office II Deputy Regional Manager Business Office of Jakarta II
Deputy Regional Manager Service & Collection Office of
Ciko Hadiantono Jakarta Regional Office II
Jakarta II
Ratna Prima Dewi West Java Regional Office Deputy Regional Manager Business Office of West Java
Deputy Regional Manager Service & Collection Office of
Wahyu Dwi Prasetyanto West Java Regional Office
West Java
Deputy Regional Manager Service & Collection Central
Wawan Kurniawan DIY Central Java Regional Office
Java DIY Regional Office
Deputy Regional Manager Business Central Java DIY
Bagus Hendri Setiawan DIY Central Java Regional Office
Regional Office
PT Bank Tabungan Negara (Persero) Tbk 181
Page 184
Company
Profile
Name Work unit Job Title
Deputy Regional Manager Business East Java Bali Nusra
Carly Tambunan East Java Bali Nusra Regional Office
Regional Office
Deputy Regional Manager Service & Collection East
Ternamentha Sitepu East Java Bali Nusra Regional Office
Java Bali Nusra Regional Office
Deputy Regional Manager Business Sumatra Regional
Aries Tuti Sumatra Regional Office
Office
Deputy Regional Manager Service & Collection Sumatra
Imam Subiyantoro Sumatra Regional Office
Regional Office
Sulawesi Maluku Papua Regional Deputy Regional Manager Service & Collection Sulawesi
Noperman Sinaga
Office Maluku Papua Regional Office
Sulawesi Maluku Papua Regional Deputy Regional Manager Business Office Sulawesi
Erik Budi Setiawan
Office Maluku Papua
Deputy Regional Manager Service & Collection Office
Didik Sudibyo Kalimantan Regional Office
Kalimantan
Arjanto Kalimantan Regional Office Deputy Regional Manager Business Office Kalimantan
Profile of
Employee
Employee Composition by Gender
Table of Employee Composition by Gender (in person)
Gender 2024 2023
Male 6,560 6,288
Female 6,287 5,757
Total 12,847 12,045
Employee Composition by Organizational Level
Table of Employee Composition by Organizational Level (in person)
2024 2023
Organizational Level
Male Female Total Male Female Total
Level 22 2 1 3 2 - 2
Level 19-21 114 26 140 134 24 158
Level 15-18 1,119 409 1,528 1,061 376 1,437
Level 13-14 1,718 1,215 2,933 1,762 1,149 2,911
Level 11-12 2,895 3,548 6,443 2,574 3,129 5,703
Level 8-10 712 1,088 1,800 755 1,079 1,834
Total 6,560 6,287 12,847 6,288 5,757 12,045
182 PT Bank Tabungan Negara (Persero) Tbk
Page 185
2024
Annual Report
Employee Composition by Age Range
Table of Employee Composition by Age Range (in person)
2024 2023
Age range
Male Female Total Male Female Total
≥ 51 681 218 899 720 231 951
31–50 3,713 2,764 6,477 3,284 2,536 5,820
≤ 30 2,166 3,305 5,471 2,284 2,990 5,274
Total 6,560 6,287 12,847 6,288 5,757 12,045
Employee Composition by Level of Education
Table of Employee Composition by Level of Education (in person)
2024 2023
Level of Education
Male Female Total Male Female Total
Doctorate Degree 373 189 562 367 168 535
Bachelor 5,574 5,212 10,786 5,254 4,627 9,881
Diploma 511 706 1.217 539 734 1,273
Senior High School 102 180 282 128 228 356
Total 6,560 6,287 12,847 6,288 5,757 12,045
Employee Composition by Employment Status
Table of Employee Composition by Employment Status (in person)
2024 2023
Employment Status
Male Female Total Male Female Total
Permanent 6,485 6,214 12,699 5,984 5,286 11,270
Contract 75 73 148 304 471 775
Total without Outsourced
6,560 6,287 12,847 6,288 5,757 12,045
Employees
Outsource 6,551 1,187 7,738 6,930 1,157 8,087
Total with Outsourced
13,111 7,474 20,585 13,218 6,914 20,132
Employees
PT Bank Tabungan Negara (Persero) Tbk 183
Page 186
Company
Profile
Employee Composition by Years of Service
Table of Employee Composition by Years of Service (in person)
2024 2023
Years of Service
Male Female Total Male Female Total
> 30th 124 80 204 50 58 108
Above 25th-30th 584 142 726 642 179 821
Above 20th-25th 0 0 0 129 21 150
Above 15th-20th 213 306 519 112 231 343
Above 10th-15th 1,473 1,519 2,992 1,046 1,345 2,391
Above 5th-10th 2,733 2,043 4,776 2,672 1,758 4,430
Above 0-5th 1,433 2,197 3,630 1,637 2,165 3,802
Total 6,560 6,287 12,847 6,288 5,757 12,045
Shareholder
Composition
Shareholder composition is presented as follows:
Table of Composition of Bank BTN Shareholders as of January 1, 2024
Number of Amount Shares Ownership
Shareholders
Shareholders (Share) Percentage (%)
LOCAL
Republic of Indonesia 1 8,420,666,648 60.00
Insurance 73 200,280,053 1.43
Bank 3 11,412,489 0.08
Retirement Fund 104 1,366,263,155 9.74
Cooperative 5 2,764,700 0.02
Indonesian Individual 55,885 1,921,912,997 13.69
Limited Liability Company 157 137,511,407 0.98
Mutual Funds 131 583,769,031 4.16
Foundation 11 35,383,999 0.25
Sub Total 56,370 12,679,964,479 90.35
FOREIGN
Foreign Business Entity 185 1,351,005,210 9.63
Foreign Individual 74 3,474,724 0.02
Sub Total 259 1,354,479,934 9.65
TOTAL 56,629 14,034,444,413 100.00
184 PT Bank Tabungan Negara (Persero) Tbk
Page 187
2024
Annual Report
Table of Composition of Bank BTN Shareholders as of December 31, 2024
Number of Amount Shares Ownership
Shareholders
Shareholders (Share) Percentage (%)
LOCAL
Republic of Indonesia 1 8,420,666,648 60.00
Insurance 93 283,251,354 2.02
Bank 3 9,608,789 0.07
Retirement Fund 108 1,331,751,166 9.49
Cooperative 3 1,016,500 0.01
Indonesian Individual 55,826 1,594,873,202 11.36
Limited Liability Company 153 115,739,035 0.82
Mutual Funds 150 744,706,029 5.31
Foundation 15 26,954,630 0.19
Sub Total 56,351 4,107,900,705 89.27
FOREIGN
Foreign Business Entity 204 1,503,132,136 10.71
Foreign Individual 71 2,744,924 0.02
Sub Total 275 1,505,877,060 10.73
TOTAL 56,627 14,034,444,413 100.00
Composition of the 20 Biggest Shareholders
Table of Composition of the 20 Largest Shareholders of Bank BTN as of January 1, 2024
Ownership
Amount Shares
No. Investor Name Status Percentage
(Share)
(%)
1. DJS KETENAGAKERJAAN PROGRAM JHT Local 389,275,808 2.77
2. PT TASPEN (ASURANSI) - AFS Local 362,166,723 2.58
3. PT TASPEN Local 332,835,794 2.37
4. REKSA DANA SUCORINVEST EQUITY FUND Local 237,196,100 1.69
5. JPMSE STOCK RE UCITS CLT RE-HANDELSBANKENTILLVAXTMARKNAD TEMA Foreign 166,610,040 1.19
6. REKSA DANA SAM DANA CERDAS Local 86,500,058 0.62
7. DJS KETENAGAKERJAAN PROGRAM JP Local 77,756,000 0.55
8. JPMCB NA RE - VANGUARD EMERGING MARKETSSTOCK INDEX FUND Foreign 66,560,556 0.47
9. DP BTN II Local 63,301,800 0.45
10. JPMCB NA RE-VANGUARD TOTAL INTERNATIONALSTOCK INDEX FUND Foreign 62,390,184 0.44
11. NT TST CO S/A LSV EMERGING MARKETS EQUITY FUND, LP Foreign 61,460,400 0.44
12. BNYM RE VANDERBILT UNIVERSITY Foreign 60,723,800 0.43
13. STATE STREET BANK-ISHARES CORE MSCI EMERGING MARKETS ETF Foreign 53,781,176 0.38
14. BNYM RE BNYMLB RE EMPLOYEES PROVIDENTFDBOARD-2039927326 Foreign 52,862,458 0.38
15. JPMCB NA RE - REB EMERGING MARKETS FINANCIALS FUND, LP Foreign 49,607,900 0.35
PT Bank Tabungan Negara (Persero) Tbk 185
Page 188
Company
Profile
Ownership
Amount Shares
No. Investor Name Status Percentage
(Share)
(%)
CITIBANK NEW YORK S/A EMERGING MARKETS CORE EQUITY PORTFOLIO
16. Foreign 48,371,154 0.34
OF DFA INV DIMENSIO
17. STATE STREET BANK-CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM Foreign 42,207,800 0.30
STATE STREET BANK-LORD ABBETT SECURITIESTRUST LORD ABBETT
18. Foreign 41,619,000 0.30
INTERNATIONAL OPPORTU
CITIBANK NEW YORK S/A GEORGETOWN EMERGING MARKETS FUND
19. Foreign 37,500,000 0.27
SPC, LTD.-XING LONG FUND
20. CITIBANK NEW YORK S/A DIMENSIONAL EMERGING MARKETS VALUE FUND Foreign 31,550,815 0.22
Table of Composition of the 20 Largest Bank BTN Shareholders as of December 31, 2024
Ownership
Amount Shares
No. Investor Name Status Percentage
(Share)
(%)
1. DJS KETENAGAKERJAAN PROGRAM JHT Local 389,275,808 2.77
2. PT TASPEN (ASURANSI) - AFS Local 362,166,723 2.58
3. PT. TASPEN Local 332,835,794 2.37
4. REKSA DANA SUCORINVEST EQUITY FUND Local 206,156,100 1.47
5. JPMSE STOCK RE UCITS CLT RE-HANDELSBANKEN Foreign 156,224,839 1.11
6. REKSA DANA SAM DANA CERDAS Local 84,750,058 0.60
7. DJS KETENAGAKERJAAN PROGRAM JP Local 77,756,000 0.55
8. NTC-ARTEMIS SMARTGARP GLOBAL EMERGING MARKETS EQUITY FUND Foreign 75,530,000 0.54
9. JPMCB NA RE - VANGUARD EMERGING MARKETS Foreign 66,560,556 0.47
10. JPMCB NA RE-VANGUARD TOTAL INTERNATIONAL Foreign 65,330,984 0.47
11. NTC-LSV EMERGING MARKETS EQUITY FUND, LP Foreign 61,460,400 0.44
12. BNYM RE BNYMLB RE EMPLOYEES PROVIDENTFD Foreign 57,337,558 0.41
13. JPMCB NA RE - REB EMERGING MARKETS FINANCIALS FUND Foreign 57,264,150 0.41
14. BNYM RE VANDERBILT UNIVERSITY Foreign 55,523,100 0.40
15. CITIBANK NEW YORK S/A EMERGING MARKETS CORE EQUITY Foreign 54,408,154 0.39
16. SSB 2Q27 ISHARES CORE MSCI EMERGING MARKETS Foreign 54,042,776 0.39
17. SSB SBG6 SWEDBANK ROBUR SMALL CAP EMERGING MARKETS Foreign 50,000,000 0.36
18. REKSA DANA ASHMORE SAHAM SEJAHTERA NUSANTARA Local 43,438,800 0.31
19. RETAIL INDIVIDUAL Local 38,406,500 0.27
20. REKSA DANA ASHMORE DANA EKUITAS NUSANTARA Local 36,759,600 0.26
186 PT Bank Tabungan Negara (Persero) Tbk
Page 189
2024
Annual Report
Shareholders Composition 5% or More
Table of Composition of Shareholders of 5% or more of Bank BTN as of January 1, 2024
Investor Name Number of shares (share) Ownership Percentage (%)
Republic of Indonesia 8,420,666,648 60.00
Table of Composition of Shareholders of 5% or More of Bank BTN as of December 31, 2024
Investor Name Number of shares (share) Ownership Percentage (%)
Republic of Indonesia 8,420,666,648 60.00
Composition of Community Shareholders Less Than 5%
Table of Composition of Community Shareholders Less than 5% as of January 1, 2024
Number of Number of shares Ownership
Shareholders
Shareholders (share) Percentage (%)
LOCAL
Insurance 73 200,280,053 1.43
Bank 3 11,412,489 0.08
Retirement Fund 104 1,366,263,155 9.74
Cooperative 5 2,764,700 0.02
Indonesian Individual 55,885 1,921,912,997 13.69
Limited Liability Company 157 137,511,407 0.98
Mutual Fund 131 583,769,031 4.16
Foundation 11 35,383,999 0.25
Sub Total 56,369 4,259,297,831 30.35%
FOREIGN
Foreign Business Entity 185 1,351,005,210 9.63%
Foreign Individual 74 3,474,724 0.02%
Sub Total 259 1,354,479,934 9.65%
TOTAL 56,628 5,613,777,765 40.00%
Table of Composition of Group of Community Shareholders Less than 5% as of December 31, 2024
Number of Number of shares Ownership
Shareholders
Shareholders (share) Percentage (%)
LOCAL
Insurance 93 283,251,354 2.02
Bank 3 9,608,789 0.07
Retirement Fund 108 1,331,751,166 9.49
Cooperative 3 1,016,500 0.01
PT Bank Tabungan Negara (Persero) Tbk 187
Page 190
Company
Profile
Number of Number of shares Ownership
Shareholders
Shareholders (share) Percentage (%)
Indonesian Individual 55,826 1,594,873,202 11.36
Limited Liability Company 153 115,739,035 0.82
Mutual Fund 150 744,706,029 5.31
Foundation 15 26,954,630 0.19
Sub Total 56,351 4,107,900,705 29.27%
FOREIGN
Foreign Business Entity 204 1,503,132,136 10.71
Foreign Individual 71 2,744,924 0.02
Sub Total 275 1,505,877,060 10.73
TOTAL 56,626 5,613,777,765 40.00%
Shareholding by The Directors and Commissioners
Table of Share Ownership of the Board of Commissioners and Directors of Bank BTN as of January 1, 2024
Number of Ownership
No. Name Position
shares (share) Percentage (%)
DIRECTOR
1. Nixon L.P. Napitupulu President Director 4,250,500 0.0302862
2. Oni Febriarto Rahardjo Deputy President Director 308,000 0.0021946
3. Andi Nirwoto Director of IT and Digital 1,822,161 0.0129835
4. Elisabeth Novie Riswanti Director of Asset Management 1,733,200 0.0123496
5. Jasmin Director of Distribution and Funding 2,848,030 0.0202931
6. Setiyo Wibowo Director of Risk Management 1,892,700 0.0134861
7. Hirwandi Gafar Director of Consumer 1,763,314 0.0125642
8. Nofry Rony Poetra Director of Finance 2,531,022 0.0180344
Director of Human Capital,
9. Eko Waluyo 1,871,964 0.0133384
Compliance and Legal
10. Hakim Putratama Director of Institutional Banking - -
BOARD OF COMMISSIONER
President Commissioner/
1. Chandra M. Hamzah - -
Independent
Deputy President Commissioner/
2. Iqbal Latanro - -
Independent
3. Armand B. Arief Independent Commissioner - -
4. Sentot A. Sentausa Independent Commissioner - -
5. Andin Hadiyanto Commissioner - -
6. Herry Trisaputra Zuna Commissioner 404,600 0.0028829
7. Himawan Arief Sugoto Commissioner 404,600 0.0028829
8. M Yusuf Permana* Commissioner - -
TOTAL 19,830,091 0.1412959
*) Resigned from office on March 4, 2024 and was confirmed at the 2024 Annual GMS.
188 PT Bank Tabungan Negara (Persero) Tbk
Page 191
2024
Annual Report
Table of Share Ownership of the Board of Commissioners and Directors of Bank BTN as of December 31, 2024
Number of Ownership
No. Name Position
shares (share) Percentage (%)
BOARD OF DIRECTORS
1. Nixon L.P. Napitupulu President Director 5,399,000 0.0384696
2. Oni Febriarto Rahardjo Deputy President Director 1,149,100 0.0081877
3. Andi Nirwoto Director of Information Technology 2,818,561 0.0200832
4. Elisabeth Novie Riswanti Director of Assets Management 2,729,600 0.0194493
Director of Distribution and
5. Jasmin 3,844,430 0.0273928
Institutional Funding
6. Setiyo Wibowo Director of Risk Management 2,889,100 0.0205858
7. Hirwandi Gafar Director of Consumer 2,759,714 0.0196639
8. Nofry Rony Poetra Director of Finance 3,527,422 0.0251340
Director of Human Capital,
9. Eko Waluyo 2,868,364 0.0204380
Compliance and Legal
Director of Operations &
10. Hakim Putratama 794,400 0.0056604
Customer Experience
11. Muhammad Iqbal Director of SME & Retail Funding - -
BOARD OF COMMISSIONERS
President Commissioner/
1. Chandra M. Hamzah - -
Independent
Deputy President Commissioner/
2. Iqbal Latanro - -
Independent
3. Armand B. Arief Independent Commissioner - -
4. Sentot A. Sentausa Independent Commissioner - -
5. Adi Sulistyowati Independent Commissioner - -
6. Bambang Widjanarko Independent Commissioner - -
7. Andin Hadiyanto Commissioner - -
8. Herry Trisaputra Zuna Commissioner 879,300 0.0062653
9. Himawan Arief Sugoto Commissioner 879,300 0.0062653
TOTAL
As of December 2024, there is no indirect share ownership by the Company’s Board of Directors and Board of
Commissioners.
Shares Ownership by Senior Management
Table of share ownership of BTN senior management as of December 31, 2024
Number of Ownership
No. Name Position
shares (share) Percentage (%)
1. Benny Yoslim SEVP Wholesale Banking 911,500 0.0064947
2. Alex Sofjan Noor SEVP Operations 1,540,026 0.0109732
3. Thomas Wahyudi SEVP Digital Business 268,500 0.0019132
As of December 31, 2024, BTN Senior Management does not have indirect share ownership.
PT Bank Tabungan Negara (Persero) Tbk 189
Page 192
Company
Profile
Shareholders Classification
Table of Bank BTN Shareholder Classification as of December 31, 2024
Number of Number of Ownership
Shareholding
Shareholders shares (share) Percentage (%)
Local Institution 526 10,933,694,151 77.91
Foreign Institution 204 1,503,132,136 10.71
Local Individual 55,826 1,594,873,202 11.36
Foreign Individual 71 2,744,924 0.02
Total 56,627 14,034,444,413 100.00
Beneficial Owner
The beneficial owner of the Company is the Government of the Republic of Indonesia, in this case the Minister of SOEs
is appointed and/or given the authority to represent the Government of the Republic of Indonesia.
Information of Major
and Controlling Shareholders
The majority share ownership of Bank BTN was owned by the Government of the Republic of Indonesia with a 60,00%.
share ownership. Thus, the Major and Controlling Shareholders of Bank BTN were the Government of the Republic of
Indonesia, there were no Major and Controlling Shareholders indirectly.
PT Bank Tabungan Negara (Persero) Tbk
60 %
Government of the
Republic of Indonesia*
*) Beneficial Owner
190 PT Bank Tabungan Negara (Persero) Tbk
Page 193
2024
Annual Report
List of Subsidiaries,
Associates and Joint Venture Companies
As of December 31, 2024 as well as the date this data/ associated companies, joint venture companies along
information was submitted, The Company does not have with the percentage of share ownership, line of business,
any Subsidiaries and/ or Associated Entities. Thus, there total assets, and operating status of subsidiaries,
is no information regarding the names of subsidiaries, associated companies, joint venture companies.
Bank Business Group
Information
As of December 31, 2024, Bank BTN did not have any linkage structure within the Bank Business Group and
Bank Business Group, so there was no information on the shareholders acting on behalf of other shareholders.
structure of the Bank Business Group, the management
Corporate Group
Structure
60% 40%
Government of the Public,
Republic of Indonesia less than 5% each
As of December 31, 2024, the Company has no Subsidiaries, Associate Entities, Joint Ventures, or Special Purpose
Vehicles (SPV).
PT Bank Tabungan Negara (Persero) Tbk 191
Page 194
Company
Profile
Stock Listing
Chronology
Initial Public Offering (IPO)
The Company listed its shares for the very first time on the Indonesia Stock Exchange on December 17, 2009 by offering
2,360,057,000 B Series shares or 27.08% of the issued capital, at a par value of IDR800 per share to the public. The Initial
Public Offering (IPO) was warmly welcome by the public, as demonstrated from 2.04 times of oversubscription with
IDR1.88 trillion of proceeds. The action was recognized as the “Best 2009 IPO in Indonesia” by The Asset magazine and
as the “Mid Cap/IPO deal of the year in Southeast Asia 2009” by Alpha Southeast Asia (Hong Kong).
Corporate Action : Initial Public Offering/IPO
Year of Issue of Shares : December 17, 2009
Number of Shares Offered : 2,360,057,000 Series B shares or 27.08% of the issued capital
Nominal Value of Shares : IDR500 per share
Bid Price : IDR800 per share
Number of Shares Before IPO : 0 share
Number of Listed Shares After IPO : 8,623,285,575 Shares of Series B
Exchange Listing : Indonesia Stock Exchange (BEI)
Limited Offering I – Rights Issue
On November 23, 2012, the Company carried out a
corporation action, i.e. Limited Offering I (PUT I) to shares. This will improve BBTN’s market capitalization
Company shareholders in relation to the performance and share liquidity in the capital market, not to mention
of Rights Issue with the aim of strengthening the capital supporting credit growth, so as to encourage investors
structure as well as increasing the number of floating to spend more of their funds in BTN shares.
Corporate Action : Limited Public Offering I (PUT I) – Preemptive Rights (HMETD)/Rights Issue
Number of Shares Offered : 1,512,857,500 Series B Shares
Nominal Value of Shares : IDR500
Exercise Price : IDR1,235
Number of Shares Recorded Before Rights
: 8,859,291,500
Issue
Number of Shares Recorded After Rights Issue : 10,481,074,500 shares
Amount of Funds (Proceeds) Received : IDR1,868,379,012,500
Conversion Ratio : 555,000 Old Shares are entitled to 94,943 HMETD
Ownership Dilution : 14.61% before MESOP and 16.49% after MESOP
Preemptive Rights Trading Period : November 23 - 29, 2012
Preemptive Rights Exercise Period : November 23 - 29, 2012
Date of Securities Listing on the Stock Exchange : November 23, 2012
Stock Exchange Listing : Indonesia Stock Exchange (BEI)
Alert Buyer : PT Bahana Securities, PT Danareksa Sekuritas dan PT Mandiri Sekuritas
192 PT Bank Tabungan Negara (Persero) Tbk
Page 195
2024
Annual Report
Limited Public Offering II – Rights Issue
On December 28, 2022, the Company carried out Preemptive Rights (HMETD) or Rights Issue with the
a corporate action in the form of Capital Increase aim of strengthening the capital structure Company in
by Providing Preemptive Rights II (PMHMETD II) increasing the distribution of credit and/or loans
to the Company’s shareholders in order to issue
Corporate Action : Increase in Capital by Providing Pre-emptive Rights II (“PMHMETD II”)
As many as 3,444,444,413 (Three Billion Four Hundred Forty Four Million Four
Number of Shares Offered :
Hundred Forty Four Thousand Four Hundred Thirteen) new Series B shares
Nominal Value of Shares : IDR500,- (five hundred Rupiah)
Exercise Price : IDR1,200 (one thousand two hundred Rupiah)
Number of Shares Recorded Before Rights Issue : 10,590,000,000 (ten billion five hundred and ninety million) shares
14,034,444,413 (fourteen billion thirty four million four hundred and forty
Number of Shares Recorded After Rights Issue :
four thousand four hundred and thirteen) shares
The value of PMN is IDR2,479,999,997,600,- (Two Trillion Four Hundred
Seventy Nine Billion Nine Hundred Ninety Nine Million Nine Hundred Ninety
Seven Thousand Six Hundred Rupiah)
Rights Issue Value :
The value of public participation is IDR1,653,333,295,600,- (One Trillion Six
Hundred Fifty Three Billion Three Hundred Thirty Three Million Two Hundred
Ninety Five Thousand Six Hundred Rupiah)
IDR4,133,333,295,600,- (Four Trillion One Hundred Thirty Three Billion
Amount of Funds (Proceeds) Received : Three Hundred Thirty Three Million Two Hundred Ninety Five Thousand Six
Hundred Rupiah)
Each holder of 100,000,000 (one hundred million) Old Shares is entitled
to 32,525,443 (thirty two million five hundred twenty five thousand four
Conversion Ratio :
hundred and forty three) HMETD, where every 1 (one) HMETD gives the
holder the right to purchase 1 (one) New Share.
Shareholders who do not exercise their rights will experience a maximum
Ownership Dilution : decrease in ownership percentage of 24.54% (Twenty Four Point Five Four
Percent)
Preemptive Rights Trading Period : December 28, 2022 - January 5, 2023
Preemptive Rights Exercise Period : December 28, 2022 - January 5, 2023
Securities Listing Date on the Stock Exchange : December 28, 2022
Stock Exchange Listing : Indonesia Stock Exchange (BEI)
Alert Buyer : PT CIMB Niaga Sekuritas
PT Bank Tabungan Negara (Persero) Tbk 193
Page 196
Company
Profile
Chronology of Issuance/Listing of Bank BTN Shares
Bid
Nominal Value
No. Period Description Share Price
(IDR)
(IDR)
1. Before IPO - - -
2. December 17, 2009 Initial Public Offering Series B Common Stock 500 800
3. February 4, 2011 MESOP Program Realization Series B Common Stock 500 855
4. October 4, 2011 MESOP Program Realization Series B Common Stock 500 855
5. February 1, 2012 MESOP Program Realization Series B Common Stock 500 1,297
6. May 1, 2012 MESOP Program Realization Series B Common Stock 500 -
Limited Public Offering I/Rights
7. November 23, 2012 Series B Common Stock 500 1,235
Issue
8. February 1, 2013 MESOP Program Realization Series B Common Stock 500 1,098
9. July 1, 2013 MESOP Program Realization Series B Common Stock 500 -
10. February 1, 2014 MESOP Program Realization Series B Common Stock 500 -
11. July 1, 2014 MESOP Program Realization Series B Common Stock 500 -
12. February 2, 2015 MESOP Program Realization Series B Common Stock 500 -
13. July 1, 2015 MESOP Program Realization Series B Common Stock 500 -
14. February 1, 2016 MESOP Program Realization Series B Common Stock 500 1,098
Limited Public Offering II/Rights
15. December 28, 2022 Series B Common Stock 500 1,200
Issue
Chronology of
Bond Listing and Other Securities Listing
Chronology of listing of other securities which consists of bonds, sukuk, mortgage securitization, negotiable certificate
of deposits (NCD) and Long Term Notes (LTN) is, as follows.
Chronology of Bond Issuance
Table of Chronology of the Company Bond Issuance Bank BTN
Electronic
Number
Bond Tenor
Description Currency of Bonds Bid Price
Distribution (Year)
(Millions)
Date
100% of the principal amount
Bank BTN Bond I Year 1989 July 25, 1989 5 IDR 50,000
of the Bonds
100% of the principal amount
Bank BTN Bond II Year 1990 - 5 IDR 50,000
of the Bonds
100% of the principal amount
Bank BTN Bond III Year 1991 - 5 IDR 50,000
of the Bonds
100% of the principal amount
Bank BTN Bond IV Year 1991 - 5 IDR 100,000
of the Bonds
194 PT Bank Tabungan Negara (Persero) Tbk
Page 197
2024
Annual Report
Issued and Paid Up Capital
Number of
shares issued (sheet) Total Amount of Money
Number of Shares (sheet) Total Offering Price (IDR)
(IDR)
- 6,354,000,000 3,177,000,000,000 -
2,360,057,000 8,714,057,000 4,357,028,500,000 1,888,045,600,000
95,015,000 8,809,072,000 4,404,536,000,000 81,237,825,000
26,898,500 8,835,970,500 4,417,985,250,000 22,998,217,500
2,544,500 8,838,515,000 4,419,257,500,000 3,300,216,500
5,068,000 8,843,583,000 4,421,791,500,000 -
1,512,857,500 10,356,440,500 5,178,220,250,000 1,868,379,012,500
206,420,500 10,562,861,000 5,281,430,500,000 226,649,709,000
1,992,500 10,564,853,500 5,282,426,750,000 -
407,000 10,565,260,500 5,282,630,250,000 -
2,435,500 10,567,696,000 5,283,848,000,000 -
24,500 10,567,720,500 5,283,860,250,000 -
14,624,500 10,582,345,000 5,291,172,500,000 -
7,655,000 10,590,000,000 5,295,000,000,000 8,405,190,000
3,444,444,413 14,034,444,413 7,017,222,206,500 4,133,333,259,600
Rating
Payment
Maturity Date Interest Rate Trustee
Status
2024 2023
July 25, 1994 18.75% fixed Paid Off - - -
June 1, 1995 16.25% fixed Paid Off - - -
November 11, 1996 20.00% fixed Paid Off - - -
January 23, 1996 17.00% fixed Paid Off - - -
PT Bank Tabungan Negara (Persero) Tbk 195
Page 198
Company
Profile
Electronic
Number
Bond Tenor
Description Currency of Bonds Bid Price
Distribution (Year)
(Millions)
Date
100% of the principal amount
Bank BTN Bond V Year 1993 - 5 IDR 150,000
of the Bonds
100% of the principal amount
Bank BTN Bond VI Year 1995 - 5 IDR 350,000
of the Bonds
100% of the principal amount
Bank BTN Bond VII Year 1996 - 5 IDR 200,000
of the Bonds
100% of the principal amount
Bank BTN Bond VIII Year 1997 - 5 IDR 400,000
of the Bonds
100% of the principal amount
Bank BTN Bond IX Year 2003 - 5 IDR 750,000
of the Bonds
100% of the principal amount
Bank BTN Bond X Year 2004 - 5 IDR 750,000
of the Bonds
100% of the principal amount
BTN Subordinated Bonds I Year 2004 - 10 IDR 250,000
of the Bonds
100% of the principal amount
BTN Bonds XI Year 2005 - 5 IDR 750,000
of the Bonds
100% of the principal amount
Bank BTN Bonds XII Year 2006 - 10 IDR 1,000,000
of the Bonds
Bank BTN Bonds XIII Year 2009 Series 100% of the principal amount
- 3 IDR 300,000
A of the Bonds
Bank BTN Bonds XIII Year 2009 Series 100% of the principal amount
- 4 IDR 300,000
B of the Bonds
Bank BTN Bonds XIII Year 2009 Series 100% of the principal amount
- 5 IDR 900,000
C of the Bonds
100% of the principal amount
Bank BTN Bond XIV Year 2010 June 11, 2010 10 IDR 1,650,000
of the Bonds
100% of the principal amount
Bank BTN Bond XV Year 2011 June 28, 2011 10 IDR 1,300,000
of the Bonds
Bank BTN Continuous Bond I Phase I 100% of the principal amount
June 5, 2012 10 IDR 2,000,000
Year 2012 of the Bonds
Bank BTN Continuous Bond I Phase II March 27, 100% of the principal amount
10 IDR 2,000,000
Year 2013 2013 of the Bonds
Sustainable Bonds II Bank BTN Phase I 100% of the principal amount
3 IDR 900,000
Year 2015 Series A of the Bonds
Sustainable Bonds II Bank BTN Phase I 100% of the principal amount
July 8, 2015 5 IDR 500,000
Year 2015 Series B of the Bonds
Sustainable Bonds II Bank BTN Phase I 100% of the principal amount
July 8, 2015 7 IDR 800,000
Year 2015 Series C of the Bonds
Sustainable Bonds II Bank BTN Phase I 100% of the principal amount
July 8, 2015 10 IDR 800,000
Year 2015 Series D of the Bonds
Sustainable Bonds II Bank BTN Phase August 30, 100% of the principal amount
3 IDR 1,347,000
II Year 2016 Series A 2016 of the Bonds
Sustainable Bonds II Bank BTN Phase August 30, 100% of the principal amount
5 IDR 1,653,000
II Year 2016 Series B 2016 of the Bonds
Sustainable Bonds III Bank BTN Phase 100% of the principal amount
July 13, 2017 3 IDR 1,466,000
I Year 2017 Series A of the Bonds
Sustainable Bonds III Bank BTN Phase 100% of the principal amount
July 13, 2017 5 IDR 1,295,000
I Year 2017 Series B of the Bonds
196 PT Bank Tabungan Negara (Persero) Tbk
Page 199
2024
Annual Report
Rating
Payment
Maturity Date Interest Rate Trustee
Status
2024 2023
15.25% fixed for the first and second
July 31, 1998 year, floating for subsequent years Paid Off - - -
until Maturity
17.25% fixed for the first year, floating
December 21, 2000 Paid Off - - -
for subsequent years until maturity
17.125% fixed for the first year, floating
July 22, 2001 Paid Off - - -
for subsequent years until maturity
July 18, 2002 14.15% fixed Paid Off - - -
October 2, 2008 12.50% fixed Paid Off - - -
May 25, 2009 12.20% fixed Paid Off - - -
12.60% fixed for the first year to the
fifth year, 22.60% fixed for the sixth
year to the tenth year if the Bank
May 25, 2014* Paid Off - - -
does not exercise the purchase
option in the fifth year from the date
of issuance
July 6, 2010 12.00% fixed Lunas - - Bank Mega
September 19, 2016 12.75% fixed Lunas - - Bank Mega
May 29, 2012 11.75% fixed Paid Off - - Bank Mega
May 29, 2013 12.00% fixed Paid Off - - Bank Mega
May 29, 2014 12.25% fixed Paid Off - - Bank Mega
June 11, 2020 10.25% fixed Paid Off - - Bank Mega
June 28, 2021 9.50% fixed Paid Off - - Bank Mega
June 5, 2022 7.90% fixed Paid Off - - Bank Mega
March 27, 2023 7.90% fixed Paid Off - AA+(idn) Bank Mega
July 8, 2018 9.625% fixed Paid Off - - Bank Mega
July 8, 2020 9.875% fixed Paid Off - - Bank Mega
July 8, 2022 10.00% fixed Paid Off - - Bank Mega
July 8, 2025 10.50% fixed Not yet due AA+(idn) AA+(idn) Bank Mega
August 30, 2019 8.20% fixed Paid off - - Bank Mega
August 30, 2021 8.75% fixed Paid off - - Bank Mega
July 13, 2020 8.30% fixed Paid off - - Bank BJB
July 13, 2022 8.50% fixed Paid off - - Bank BJB
PT Bank Tabungan Negara (Persero) Tbk 197
Page 200
Company
Profile
Electronic
Number
Bond Tenor
Description Currency of Bonds Bid Price
Distribution (Year)
(Millions)
Date
Sustainable Bonds III Bank BTN Phase 100% of the principal amount
July 13, 2017 7 IDR 853,000
I Year 2017 Series C of the Bonds
Sustainable Bonds III Bank BTN Phase 100% of the principal amount
July 13, 2017 10 IDR 1,386,000
I Year 2017 Series D of the Bonds
Sustainable Bonds III Bank BTN Phase 100% of the principal amount
June 28, 2019 370 Hari IDR 1,756,500
II Year 2019 Series A of the Bonds
Sustainable Bonds III Bank BTN Phase 100% of the principal amount
June 28, 2019 3 IDR 1,168,000
II Year 2019 Series B of the Bonds
Sustainable Bonds III Bank BTN Phase 100% of the principal amount
June 28, 2019 5 IDR 1,219,500
II Year 2019 Series C of the Bonds
January 23, 100% of the principal amount
Junior Global Bond Bank BTN 5 USD 300
2020 of the Bonds
Sustainable Bond IV Bank BTN Phase I August 19, 100% of the principal amount
370 (day) IDR 577,000
Year 2020 Series A 2020 of the Bonds
Sustainable Bond IV Bank BTN Phase I August 19, 100% of the principal amount
3 IDR 727,000
Year 2020 Series B 2020 of the Bonds
Sustainable Bond IV Bank BTN Phase I August 19, 100% of the principal amount
5 IDR 196,000
Year 2020 Series C 2020 of the Bonds
Sustainable Bond IV Bank BTN Phase 100% of the principal amount
May 24, 2022 3 IDR 600,000
II Year 2022 Series A of the Bonds
Sustainable Bond IV Bank BTN Phase 100% of the principal amount
May 24, 2022 5 IDR 400,000
II Year 2022 Series B of the Bonds
Notes:
- The rating of outstanding domestic securities in 2024 was based on Fitch’s rating.
- The rating of the outstanding BTN Junior Global Bond (USD) in 2024 was based on Moody’s rating.
* The Company exercised a buyback option on May 25, 2009
Chronology of Sukuk Issuance
Table of Bank BTN Sukuk Issuance Chronology
Electronic Sukuk Sukuk Amount
Description Tenor (Month) Currency
Distribution Date (Millions of IDR)
BTN Sukuk I Year 2023 Phase I July 28, 2023 159 IDR 92,553
BTN Sukuk I Year 2023 Phase
December 27, 2023 156 IDR 175,039
II
198 PT Bank Tabungan Negara (Persero) Tbk
Page 201
2024
Annual Report
Rating
Payment
Maturity Date Interest Rate Trustee
Status
2024 2023
July 13, 2024 8.70% fixed Paid off - AA+(idn) Bank BJB
July 13, 2027 8.90% fixed Not yet due AA+(idn) AA+(idn) Bank BJB
July 8, 2020 7.750% fixed Paid off - - Bank Mega
June 28, 2022 8.750% fixed Paid off - - Bank Mega
June 28, 2024 9,000% fixed Paid Off - AA+(idn) Bank Mega
Citicorp
January 23, 2025 4,20% Not Yet Due Ba3 Ba3 International
Limited
August 29, 2021 6,75% Paid Off - - Bank BJB
August 19, 2023 7,80% Paid Off - AA+(idn) Bank BJB
August 19, 2025 8,40% Not Yet Due AA+(idn) AA+(idn) Bank BJB
May 24, 2025 5,50% Not Yet Due AA+(idn) AA+(idn) Bank BJB
May 24, 2027 6,0% Not Yet Due AA+(idn) AA+(idn) Bank BJB
Stock Exchange Listings of Company Bonds
- All BTN Domestic Bonds are listed on the Indonesia Stock Exchange.
- BTN Junior Global Bond is listed on the SGX (Singapore Exchange)
Maturity Date Level Nisbah Payment Status Description
11.00% of the revenue shared with an indication These Securities were not rated, and
October 28, 2036 Not yet due
of profit sharing equivalent to 0.55% per year. there was no public offering
27.40% of the revenue generated with an
December 27, These Securities were not rated, and
indication of profit sharing equivalent to 1.37% Not yet due
2036 there was no public offering
per year.
PT Bank Tabungan Negara (Persero) Tbk 199
Page 202
Company
Profile
Chronology of KPR Securization
The Company has carried out the securitization of Housing Loan bills through Collective Investment Contract of Asset-
Backed Security (KIK-EBA) and Asset-Backed Security in the Form of Letter of Participation (EBA-SP), with the following
details:
Table of Chronology of KPR Securization Bank BTN
Securization
No. Total Nominal (IDR) Class Nominal (IDR)
Transactions
A 100,000,000,000
1. KIK-EBA DSMF 01 111,111,108,501
B 11,111,108,501
A 360,000,000,000
2. KIK-EBA DSMF 02 391,305,329,159
B 31,305,329,159
A 688,500,000,000
3. KIK-EBA DBTN 01 750,000,230,717
B 61,500,230,717
A 645,000,000,000
4. KIK-EBA DBTN 02 703,450,414,156
B 58,450,414,156
A 925,000,000,000
5. KIK-EBA DBTN 03 1,000,000,005,997
B 75,000,005,997
A1 403,000,000,000
6. KIK-EBA DBTN 04 1,000,000,005,941 A2 525,000,000,000
B 72,000,005,941
A1 723,500,000,000
7. KIK-EBA DBTN 05 1,500,000,001,615 A2 647,500,000,000
B 129,000,001,615
A 181,600,000,000
8. EBA-SP SMF-BTN 01 200,000,000,041
B 18,400,000,041
A1 400,000,000,000
9. EBA-SP SMF-BTN 02 1,000,000,000,000 A2 513,000,000,000
B 87,000,000,000
A1 200,000,000,000
10. EBA-SP SMF-BTN 03 1,000,000,000,000 A2 713,000,000,000
B 87,000,000,000
A1 700,000,000,000
11. EBA-SP SMF-BTN 04 2,000,000,000,000 A2 1,124,000,000,000
B 176,000,000,000
A1 574,000,000,000
A2 1,142,000,000,000
12. EBA-SP SMF-BTN 05 2,000,000,000,000
M 24,000,000,000
B 260,000,000,000
A 576,734,000,000
13. EBA-SP SMF-BTN 06 631,000,543,015
B 54,266,543,015
200 PT Bank Tabungan Negara (Persero) Tbk
Page 203
2024
Annual Report
Date of Transaction Maturity Date Average Life Class A Coupon Class A Ranking
February 11, 2009* January 10, 2018 5.30 13.000% id
AAA
November 10, 2009* December 10, 2019 5.63 11.000% id
AAA
December 27, 2010* September 27, 2019 5.35 9.250% id
AAA
November 16, 2022* February 27, 2021 5.94 8.750% id
AAA
December 12, 2012* January 07, 2023 6.35 7.750% id
AAA
A1 = 8.90%
December 20, 2013* February 26, 2022 5.57 id
AAA
A2 = 9.50%
A1 = 10%
November 28, 2014 *
September 07, 2025 6.72 id
AAA
A2 = 10.25%
November 27, 2015 March 07, 2022 3.95 8.60% id
AAA
A1 = 8.15%
June 27, 2027
October 31, 2016 7.05 AAA
January 07, 2028 id
A2 = 8.75%
A1 = 8.00%
April 28, 2017 May 07, 2029 7.78 id
AAA
A2 = 8.40%
A1 = 7.00%
February 28, 2018 May 07, 2032 7.03 id
AAA
A2 = 7.50%
A1 = 8.50%
id
AAA
A2 = 8.75%
June 27, 2027
November 27, 2019 9.09
January 07, 2028
M = 10.40% id
A
December 30, 2020 May 07, 2029 6.08 6.50% id
AAA
PT Bank Tabungan Negara (Persero) Tbk 201
Page 204
Company
Profile
Securization
No. Total Nominal (IDR) Class Nominal (IDR)
Transactions
A 452,500,000,000
14. EBA-SP SMF-BTN 07 500,000,001,416
B 47,500,001,416
A 544,800,000,000
15. EBA-SP SMF-BTN 08 600,000,020,055
B 55,200,020,055
Jumlah 13,386,867,660,613 13,386,867,660,613
The Bank as a Service Provider in securitization transactions has implemented the clean-up call option in accordance with the provisions.
*
Chronology of Negotiable Certificate of Deposit Issuance
Table of Chronology of Negotiable Certificate of Deposit Recording
Type NCD Issuance Nominal (IDR) Date of Transaction Series
NCD Phase I 625,000,000,000 December 5, 2014 A
B
C
NCD Phase II 1,005,000,000,000 February 26, 2015 A
B
C
NCD Phase III 500,000,000,000 February 17, 2015 E
NCD Phase IV 1,110,000,000,000 April 30, 2015 A
B
C
NCD Phase I 2016 740,000,000,000 June 9, 2016 A
NCD Phase II 2016 1,115,000,000,000 August 5, 2016 A
B
C
NCD Phase III 2016 371,000,000,000 November 30, 2016 A
B
NCD Phase IV 2016 500,000,000,000 December 29, 2016 A
B
NCD Phase V 2016 500,000,000,000 December 30, 2016 -
NCD Phase I 2017 1,735,000,000,000 February 21, 2017 A
B
NCD Phase III 2017 550,000,000,000 October 3, 2017 -
NCD Phase II 2017 1,050,000,000,000 October 5, 2017 A
B
202 PT Bank Tabungan Negara (Persero) Tbk
Page 205
2024
Annual Report
Date of Transaction Maturity Date Average Life Class A Coupon Class A Ranking
id
AAA
December 23, 2022 January 07, 2034 5.66 7.70%
id
AAA
September 26, 2023 August 07, 2035 7.44 6.65% id
AAA
Tenor Maturity Date Rate Nominal Per Series
6 months June 4, 2015 9.00% 280,000,000,000
12 months November 27, 2015 9.25% 45,000,000,000
15 months February 26, 2016 9.50% 300,000,000,000
6 months August 26, 2015 9.00% 470,000,000,000
12 months February 18, 2016 9.25% 85,000,000,000
15 months May 19, 2016 9.50% 10,000,000,000
18 months August 18, 2016 9.70% 440,000,000,000
5 months July 15, 2015 9.00% 500,000,000,000
6 months October 30, 2015 8.75% 330,000,000,000
12 months May 2, 2016 9.00% 620,000,000,000
18 months October 31, 2016 9.25% 160,000,000,000
3 months September 9, 2016 6.85% 740,000,000,000
3 months November 3, 2016 7.19% 440,000,000,000
6 months February 1, 2017 7.47% 275,000,000,000
12 months August 10, 2017 7.80% 400,000,000,000
3 months February 28, 2017 7.04% 20,000,000,000
6 months May 29, 2017 7.26% 351,000,000,000
3 months March 29, 2017 7.75% 315,000,000,000
6 months July 3, 2017 7.74% 185,000,000,000
6 months July 3, 2017 7.73% 500,000,000,000
6 months August 22, 2017 7.28% 1,195,000,000,000
12 months February 16, 2018 7.43% 540,000,000,000
12 months October 2, 2018 6.50% 550,000,000,000
6 months April 3, 2018 6.00% 230,000,000,000
12 months October 5, 2018 6.25% 820,000,000,000
PT Bank Tabungan Negara (Persero) Tbk 203
Page 206
Company
Profile
Type NCD Issuance Nominal (IDR) Date of Transaction Series
NCD Phase IV 2017 540,000,000,000 December 13, 2017 A
B
NCD Phase I 2018 1,440,000,000,000 April 3, 2018 A
NCD Phase II 2018 690,000,000,000 July 18, 2018 A
B
NCD Phase III 2018 2,020,000,000,000 November 5, 2018 A
B
C
NCD Phase IV 2018 340,000,000,000 December 10, 2018 A
B
NCD Phase I Tahun 2023 1,500,000,000,000 October 20, 2023 A
B
C
Total 14,831,000,000,000
Chronology of Issuing Long Term Notes (LTN)
The issuance of BTN Long Term Notes (LTN) was intended for BP Taperaas single investor, as reimbursement of BP
Tapera’s source of fund for KPR Tapera distribution. Thus, LTN was a debt securities issued without going through a
Public Offering process and was not rated.
Table of Chronology of Issuance of Long Term Notes (LTN) of Bank BTN
Electronic LTN Tenor LTN Amount
Description Currency
Distribution Date (Month) (IDR Thousands)
LTN BTN 2021 Phase I December 17, 2021 186 IDR 10,185,851
LTN BTN II 2022 Series A July 12, 2022 171 IDR 47,740,325
LTN BTN II 2022 Series B July 12, 2022 177 IDR 79,378,706
LTN BTN III Phase I YEAR 2022 December 14, 2022 177 IDR 210,866,282
LTN BTN III Phase II YEAR 2022 December 28, 2022 171 IDR 131,184,885
LTN BTN IV Phase I Year 2023 July 28, 2023 165 IDR 35,898,139
LTN BTN IV Phase II Year 2023 September 15, 2023 168 IDR 404,745,014
LTN BTN IV Phase III Year 2023 – Series A December 27, 2023 180 IDR 6,241,671,188
LTN BTN IV Phase III Year 2023 – Series B December 27, 2023 168 IDR 234,541,750,854
LTN BTN IV Year 2024 Phase IV May 07, 2024 171 IDR 203,350,626,300
LTN BTN IV Year 2024 Phase V September 27, 2024 171 IDR 312,678,083,000
LTN BTN IV Year 2024 Phase VI December 23, 2024 168 IDR 147,909,042,000
Note: BTN LTN Securities are unrated and issued through a private placement to BP Tapera.
204 PT Bank Tabungan Negara (Persero) Tbk
Page 207
2024
Annual Report
Tenor Maturity Date Rate Nominal Per Series
6 months June 12, 2018 5.90% 160,000,000,000
12 months December 13, 2018 6.20% 320,000,000,000
6 months October 2, 2018 5.90% 830,000,000,000
6 months January 15, 2019 7.60% 520,000,000,000
12 months July 16, 2019 7.70% 170,000,000,000
6 months May 7, 2019 8.30% 1,340,000,000,000
9 months August 2, 2019 8.40% 170,000,000,000
12 months November 5, 2019 8.50% 510,000,000,000
3 months March 12, 2019 8.00% 80,000,000,000
6 months June 11, 2019 8.40% 260,000,000,000
6 months April 17, 2024 6.40% 500,000,000,000
9 months July 16, 2024 6.45% 70,000,000,000
12 months October 21, 2024 6.53% 930,000,000,000
16,331,000,000,000
Interest
Maturity Date Payment Status Description
Rates
June 17, 2037 1.37% fixed Not yet due These Securities were not rated, and there was no public offering.
October 12, 2036 1.37% fixed Not yet due These Securities were not rated, and there was no public offering.
April 12, 2037 0.55% fixed Not yet due These Securities were not rated, and there was no public offering.
June 14, 2037 0.55% fixed Not yet due These Securities were not rated, and there was no public offering.
March 28, 2037 0.55% fixed Not yet due These Securities were not rated, and there was no public offering.
April 28, 2037 0.55% fixed Not yet due These Securities were not rated, and there was no public offering.
September 15, 2037 1.37% fixed Not yet due These Securities were not rated, and there was no public offering.
December 27, 2038 0.55% fixed Not yet due These Securities were not rated, and there was no public offering.
December 27, 2037 1.37% fixed Not yet due These Securities were not rated, and there was no public offering.
August 07, 2038 1.37% fixed Not yet due These Securities were not rated, and there was no public offering.
December 27, 2038 1.37% fixed Not yet due These Securities were not rated, and there was no public offering.
December 23, 2038 1.37% fixed Not yet due These Securities were not rated, and there was no public offering.
PT Bank Tabungan Negara (Persero) Tbk 205
Page 208
Company
Profile
Information on the Use of Public Accounting
and Public Accounting Office Services
Name of Public Accounting Firm KAP Purwantono, Sungkoro & Surja
Association Network Ernst & Young Global Limited
Indonesia Stock Exchange Building Tower 2, 5th Floor
Financial Accounting Firm Address
Jl. Jend. Sudirman Kav.52-53, Jakarta 12190, Indonesia
AP Name Christophorus Alvin Kossim
Financial Accounting Firm
Period 10
Assignment Period
AP Assignment Period Period 2
Audit Services General Audit for Fiscal Year 2024
Non-Audit Services Does not have non-audit services
Audit Fee IDR5,075,000,000
Non-Audit Fee -
Supporting Institution
and/or Professional
CUSTODIAN BANK
Name : PT Kustodian Sentral Efek Indonesia
: Gedung Bursa Efek Indonesia, Tower 1, Lantai 5. Jl. Jend. Sudirman Kav. 52-53, Jakarta 12190,
Address Indonesia
Telephone : (021) 5152855
Facsimile : (021) 52991199
Email : helpdesk@ksei.co.id
Website : www.ksei.co.id
Form of Service : Custodian and Payment Agent
Assignment Period : Throughout the life of the Debt Securities
206 PT Bank Tabungan Negara (Persero) Tbk
Page 209
2024
Annual Report
Name : PT Penilai Harga Efek Indonesia
: Gedung Bursa Efek Indonesia, Tower 2, Lantai GF. Jl. Jend. Sudirman Kav. 52-53, Jakarta 12190,
Address Indonesia
Telephone : (021) 5155620
Facsimile : (021) 5155026
Email : enquiries@phei.co.id
Website : www.phei.co.id
Form of Service : Indonesian securities price provider
Assignment Period : Throughout the life of the securities, they are debt in nature.
Name : PT Bursa Efek Indonesia (CTP – PLTE)
: Gedung Bursa Efek Indonesia, Tower 1, Lantai 6. Jl. Jend. Sudirman Kav. 52-53, Jakarta 12190,
Address Indonesia
Telephone : (021) 150515 (Nasional)
Facsimile : -
Email : contactcenter@idx.co.id
Website : Idx.co.id
Form of Service : Reporting provider for securities transactions
Assignment Period : Throughout the life of the securities, they are debt in nature.
BUREAU OF SECURITIES ADMINISTRATION
Name : PT Datindo Entrycom
Address : Jl. Hayam Wuruk No.28, Lantai 2 Jakarta 10120 - Indonesia
Telephone : (021) 3508077
Facsimile : (021) 3508077
Email : corporatesecretary@datindo.com
Website : https://www.datindo.com
Form of Service : Securities Administration Bureau for Shares
Assignment Period : December 9, 2009 – present
TRUSTEE
Name : PT Bank Mega Tbk
Address : Menara Bank Mega, Jl. Kapten P. Tendean No. 12-14A, Jakarta 12790, Indonesia
Telephone : (021) 79175000
Facsimile : (021) 79187100
Email : waliamanat@bankmega.com
Website : www.bankmega.com
Form of Service : Bond Trustee
Assignment Period : Throughout the Life of the Bond
PT Bank Tabungan Negara (Persero) Tbk 207
Page 210
Company
Profile
Name : PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk (Bank BJB)
Address : Sinarmas MSIG Tower Lantai 9, Jl. Jend. Sudirman kav. 21, Jakarta Selatan, lndonesia
Telephone : (021) 5228737 Ext. 101
Facsimile : (021) 5228738
Email : -
Website : www.bankbjb.co.id
Form of Service : Trustee of Continuous Public Offering Continuous Bonds
Assignment Period : Throughout the Life of the Bonds
Name : Citicorp International Limited
: 20th Floor, Citi Tower, One Bay East
Address 83 Hoi Bun Road, Kwun Tong
Kowloon, Hong Kong
Telephone : -
Facsimile : (+852) 2323 0279
Email : -
Website : -
Form of Service : Trustee Junior Global Bond 2020
Assignment Period : For the life of Junior Global Bond
Name : PT Bank Mandiri (Persero) Tbk
Address : Jl. Jend. Gatot Subroto Kav. 36-38 Jakarta 12190, Indonesia
Telephone : (62-21) 526 5045, 526 5095
Facsimile : (62-21) 527 447, 527 5577
Email : fundaccounting@bankmandiri.co.id
Website : -
Form of Service : Trustee and Custodian Bank of EBA Securitization (Asset Backed Securities)
Assignment Period : Throughout the life of the EBA
Name : PT Bank Rakyat Indonesia (Persero) Tbk
Address : Jl. Jendral Sudirman No. 44-46 Tromol Pos 1094 / 1000 Jakarta 10210
Telephone : 2510244, 25100254
Facsimile : 2500065, 2500077
208 PT Bank Tabungan Negara (Persero) Tbk
Page 211
2024
Annual Report
Email : custody_mf@corp.bri.co.id
Website : -
Form of Service : Trustee and Custodian Bank of EBA Securitization (Asset Backed Securities)
Assignment Period : Throughout the life of the EBA
SECURITIES RATING
Name : PT Fitch Ratings Indonesia
Address : DBS Bank Tower 24th Floor Suite 2403, Jl. Prof. Dr. Satrio Kav. 3-5, Jakarta 12940 Indonesia
Telephone : (021) 29886800
Facsimile : (021) 29886822
Email : -
Website : www.fitchratings.com
Form of Service : Rating
Assignment Period : Throughout the life of the Bond
Name : Moody’s Investor Service Singapore Pte. Ltd
: 50 Raffles Place #23-06
Address Singapore Land Tower
Singapore 48623
Telephone : -
Facsimile : -
Email : -
Website : www.moodys.com
Form of Service : Ratings
Assignment Period : Junior Global Bond Lifetime
Name : PT Pemeringkat Efek Indonesia
: Equity Tower Lt. 30, Sudirman Business District, Lot 9, Jl. Jend. Sudirman Kav. 52 – 53, Jakarta
Address Selatan 12190, Indonesia
Telephone : (021) 509 68469
Facsimile : (021) 509 68468
Email : -
Website : www.pefindo.com
Form of Service : Rating
Assignment Period : -
PT Bank Tabungan Negara (Persero) Tbk 209
Page 212
Company
Profile
LEGAL CONSULTANT
Name : Hadiputranto, Hadinoto & Partners
: Pacific Century Place Level 35 Sudirman Central Business District Lot 10
Address Jl. Jend. Sudirman Kac 52-53 Jakarta 12190 Indonesia
Telephone : (021) 29608888
Facsimile : (021) 29608999
Email : -
Website : www.hhp.co.id
Form of Service : Legal Consultation
Assignment Period :
LEGAL CONSULTANT ON CALL
Name : UMBRA
Address : Telkom Landmark Tower, Tower 2, 49th Floor, Jl. Gatot Subroto Kav 52, Jakarta 12710
Telephone : (021) 5082 0999
Facsimile : -
Email : raditya@umbra.law
Website : www.umbra.law
: Legal Consultant Services in the context of assisting in the implementation of the preparation of
Form of Service Sukuk Purchase Transaction Studies & Documents accompanied by the Sale of Troubled Assets
("Project Tiger")
Assignment Period : February 26, 2024 to February 28, 2024
Name : PwC Legal Indonesia
Address : WTC 3, Jalan Jenderal Sudirman Kavling 29-31 Jakarta 12920
Telephone : 021 50992901
Facsimile : -
Email : contact.us@id.pwc.com , indra.allen@pwc.com
Website : www.pwc.com
: Assistance for the Annual General Meeting of Shareholders for the 2023 Fiscal Year
Form of Service (AGMS for the 2023 Fiscal Year)
Assignment Period : January 19, 2024 until notification of the minutes of the AGMS for the 2023 Fiscal Year
210 PT Bank Tabungan Negara (Persero) Tbk
Page 213
2024
Annual Report
Name : Bagus Enrico & Partners
: Menara Rajawali Lantai 15, CBD Mega Kuningan, Jl. Dr. Ide Anak Agung Gde Agung Kav. 5.1,
Address Jakarta
Telephone : 021 29885959
Facsimile : -
Email : bagus@bepartners.co.id
Website : www.bepartners.co.id
: Assistance in the implementation of the preparation of Legal Studies related to Legal Aspects
and Legal Risk Mitigation for the Use of Blockchain Technology and Systems in Products and
Form of Service Activities, proposed implementation along with adjustments to provisions as a basis for the Use
of Blockchain Technology and Systems in BTN Products and Activities.
Assignment Period : May 31, 2024 to September 30, 2024
Name : Rakhmat Suroso Adinugraha Advocates (RSA Advocates)
Address : Sopo Del Office, Tower A – Level 23 Jalan Mega Kuningan Barat III Lot. 10. 1-6 Jakarta 12950
Telephone : 021 50806596/97
Facsimile : -
Email : Ferry.rajagukguk@rsadvocates.co.id
Website : rsadvocates.co.id
Form of Service : Legal Consultant for Assistance in the Preparation of the BTN Tiger Project White Paper
Assignment Period : February 1, 2024 to April 1, 2024
Name : Hielmy Izzudin dan Rekan
Address : Kav PTB DKI F2/28 Pondok Kelapa, Jakarta Timur
Telephone : 0812 8883 7972
Facsimile : -
Email : Hielmyizzudin.law@gmail.com
Website : -
: Preparation of Technical Instructions on Procurement of Legal Consultants, Preparation of
Form of Service Technical Instructions and Manual Book on Handling of Legal Problems.
Assignment Period : February 26, 2024 to October 30, 2024
PT Bank Tabungan Negara (Persero) Tbk 211
Page 214
Company
Profile
NOTARY
Name : Siti Rayhana, SH
: Riviera Timur No. 1 Cluster La Bella, Riviera Village, Jl. Gading Golf Boulevard, Gading Serpong,
Address Cihuni, Kec. Pagedangan, Kabupaten Tangerang, Banten 15332
Telephone : (021) 55687610
Facsimile : -
Email : siti.rayhana@yahoo.co.id
Website : N/A
Form of Service : Issuing Credit Agreement Deed from PT. Bank Central Asia
Assignment Period : Until each transaction is completed.
Name : Sari Bhirawati, SH
Address : Jl. Wijaya I No. 56, Kebayoran Baru, Jakarta Selatan, Daerah Khusus Ibukota Jakarta 12170
Telephone : (021) 7226108
Facsimile : -
Email : kantornotarissaribhirawati@gmail.com
Website : -
: Issuing the Deed of Cooperation Agreement between PT Asuransi Jasa Raharja Putera and PT
Form of Service Bank Tabungan Negara (Persero) Tbk.
Assignment Period : September 25, 2023
Name : Ashoya Ratam, SH., MKn
Address : Jl. Suryo No. 54 Kebayoran Baru, South Jakarta 12180
Telephone : (021) 29236060
Facsimile : (021) 29236070
Email : notaris@ashoyaratam.com
Website : N/A
Form of Service : Notary Supporting GMS
Assignment Period : -
212 PT Bank Tabungan Negara (Persero) Tbk
Page 215
2024
Annual Report
Awards
and Certifications
Award
No. Award Name Events Organizer Date
Living Legend Company in Developing Solid
Indonesia Living Legend
1. Housing Financial Services Ecosystem Through Warta Ekonomi January 31, 2024
Company Award 2024
Continues Innovation
The Best KBMI 3 Bank in Satisfaction Loyalty and Infobank 7th Satisfaction
2. Infobank February 1, 2024
Engagement (SLE) Index 2024 Loyalty Engagement MRI
Infobank 7th Satisfaction
3. The Most Satisfying KBMI 3 Bank in ATM Service Infobank February 1, 2024
Loyalty Engagement MRI
Infobank 7th Satisfaction
4. The Most Satisfying KBMI 3 in Teller Service Infobank February 1, 2024
Loyalty Engagement MRI
Infobank 7th Satisfaction
5. The 2nd B est KBMI in Marketing Engagement Infobank February 1, 2024
Loyalty Engagement MRI
The 2nd Most Satisfying KBMI 3 Bank in Branch Infobank 7th Satisfaction
6. Infobank February 1, 2024
Office Loyalty Engagement MRI
Infobank 7th Satisfaction
7. The Best KBMI 3 Bank in Customer Loyalty Infobank February 1, 2024
Loyalty Engagement MRI
Infobank 7th Satisfaction
8. The Best KBMI 3 Bank In Customer Engagement Infobank February 1, 2024
Loyalty Engagement MRI
The 3rd Most Satisfying KBMI 3 Bank In Mobile Infobank 7th Satisfaction
9. Infobank February 1, 2024
Banking Loyalty Engagement MRI
The Most Satisfying KBMI 3 Bank In Customer Infobank 7th Satisfaction
10. Infobank February 1, 2024
Services Loyalty Engagement MRI
Infobank 7th Satisfaction
11. The Best KBMI 3 Bank In Brand Interactivity Infobank February 1, 2024
Loyalty Engagement MRI
Infobank 7th Satisfaction
12. The Best KBMI 3 in Customer Satisfaction Infobank February 1, 2024
Loyalty Engagement MRI
The 2nd Best KBMI 3 Bank In Marketing Infobank 7th Satisfaction
13. Infobank February 1, 2024
Engagement Loyalty Engagement MRI
BUMN Corporate Communications & Social Media & Corporate
14. Kementerian BUMN March 7, 2024
Sustainability Summit 2024- BCOMMS24 Campaign
20 Most Popular Institutions/Corporations in
15. PR Indonesia Award 2024 PR Indonesia March 7, 2024
Print/Online Media Version PR Indonesia Award
Silver Winner in SOE Sector - Owned Media
16. Category - E-Magazine Subcategory (Paras PR Indonesia Award 2024 PR Indonesia March 7, 2024
December Edition)
PT Bank Tabungan Negara (Persero) Tbk 213
Page 216
Company
Profile
No. Award Name Events Organizer Date
Bronze Winner
SOE Sector
17. PR Indonesia Award 2024 PR Indonesia March 7, 2024
Category: Annual Report
Subcategory: Annual Report
BUMN Track X PPM
18. The Best CEO Leading Change Innovation Anugerah BUMN 2024 March 13, 2024
Management
BUMN Track X PPM
19. Best Corporate Digital Transformation Anugerah BUMN 2024 March 13, 2024
Management
BUMN Track X PPM
20. Best Corporate Business Anugerah BUMN 2024 March 13, 2024
Management
Nixon LP Napitupulu
21. Indonesia Best 50 CEO Awards 2024 in KBMI 3 Indonesia Best CEO Award The Iconomics March 21, 2024
Category
Indonesia Corporate
Platinum Award Score 93,82 Very Excellent
22. Secretary & Communication Economic Review March 28, 2024
Kategori SOE, Bank Public company
Award IX 2024
Nixon LP Napitupulu
Digital Technology & Forum Digital BUMN
23. The Best CEO for Corporate Digital April 4, 2024
Innovation Award 2024 (Fordigi) dan itech
Transformation Of The Year (Banking Industries)
The Greatest Champions of Digital
Digital Technology & Forum Digital BUMN
24. Transformation & Innovation Excellence April 4, 2024
Innovation Award 2024 (Fordigi) dan itech
(Banking Industries)
Digital Technology & Forum Digital BUMN
25. The Best IT Leadership (Banking Industries) April 4, 2024
Innovation Award 2024 (Fordigi) dan itech
Andi Nirwoto
Digital Technology & Forum Digital BUMN
26. The Best Chief Information Technology Officer of April 4, 2024
Innovation Award 2024 (Fordigi) dan itech
The Year
Platinum Trophy/The Best Conventional Bank in
27. Digital Brand Award 2024 Infobank April 5, 2024
Digital Brand/10 Years in a Row/2015-2024
The Highest Digital Index Sharia Business Unit
28. Digital Brand Award 2024 Infobank April 5, 2024
(BTN Syariah)
The Highest Digital Index/Savings Account
29. Digital Brand Award 2024 Infobank April 5, 2024
Conventional Bank
The Highest Digital Index/Wealth Management
30. Digital Brand Award 2024 Infobank April 5, 2024
Conventional Bank
31. The Best Conventional Bank KBMI 3 Digital Brand Award 2024 Infobank April 5, 2024
32. The Best Debit Card Conventional Bank KBMI 3 Digital Brand Award 2024 Infobank April 5, 2024
33. The Best Deposit Conventional Bank KBMI 3 Digital Brand Award 2024 Infobank April 5, 2024
The Best Mortgage Loan Conventional Bank
34. Digital Brand Award 2024 Infobank April 5, 2024
KBMI 3
The Best Savings Account Conventional Bank
35. Digital Brand Award 2024 Infobank April 5, 2024
KBMI 3
214 PT Bank Tabungan Negara (Persero) Tbk
Page 217
2024
Annual Report
No. Award Name Events Organizer Date
The Best Mobile Banking Conventional Bank
36. Digital Brand Award 2024 Infobank April 5, 2024
KBMI 3
37. The Best Sharia Business Unit Digital Brand Award 2024 Infobank April 5, 2024
38. The Best Debit Card Sharia Business Unit Digital Brand Award 2024 Infobank April 5, 2024
The Best Wealth Management Conventional
39. Digital Brand Award 2024 Infobank April 5, 2024
Bank KBMI 3 Aset Class >200Tt
40. Linked in Top Companies 2024 - 3rd Linkedin Top Companies Linkedin April 16, 2024
TOP Companies to Watch Bloomberg Technoz
41. 20 TOP Companies to Watch in 2024 April 29, 2024
in 2024 (media)
Global Brand
42. Best Savings Bank of The Year Global Brand Awards 2024 May 5, 2024
Magazine
43. Best Domestic Islamic Bank di Indonesia Euromoney Islamic Award Euromoney May 22, 2024
Investor Daily –
44. Best Sharia Bank Ekonomi Syariah 2024 May 27, 2024
Infovesta
Transparansi Penurunan
Green Elite (Corporate Emission Reduction Bumi Global Karbon
45. Emisi Korporasi Terbaik May 29, 2024
Transparency) (BGK) Foundation
2024
Platinum Plus (Corporate Emission Reduction Transparansi Penurunan Bumi Global Karbon
46. May 29, 2024
Transparency) Emisi Korporasi Terbaik 2024 (BGK) Foundation
The 3rd Best Sharia Business Unit in Service 21st Infobank MRI Banking Infobank Media
47. July 02, 2024
Excellence Service Excellence 2024 Group
The 2nd Best – Branch Convenient Experience 21st Infobank MRI Banking Infobank Media
48. July 02, 2024
(Bank Sharia Business Unit) Service Excellence 2024 Group
The 2nd Best – Branch ATM (Bank Sharia Business 21st Infobank MRI Banking Infobank Media
49. July 02, 2024
Unit) Service Excellence 2024 Group
Asian Banking &
Customer Experience Initiative of The Year - Asian Banking & Finance-
50. Finance-Retail July 04, 2024
Indonesia Retail Banking Awards 2024
Banking
ABF (Asian Banking &
Indonesia Domestic Technology & Operations ABF (Asian Banking
51. Finance) Wholesale July 04, 2024
Bank of The Year & Finance)
Banking Award 2024
52. MOB-EX Launch/Relaunch MOB-EX Award 2024 Leverate Group July 18, 2024
Euromoney Award for
53. Indonesia’s Best Bank for Diversity and Inclusion Euromoney July 19, 2024
Excellence 2024
SWA Network
Excellent - Learning & Development and & Lembaga
54. HR Excellence Awards 2024 July 24, 2024
Knowledge Management Manajemen FEB UI
(LMFEBUI)
SWA Network
Very Good - Reward Management & Talent & Lembaga
55. HR Excellence Awards 2024 July 24, 2024
Retention Strategy Manajemen FEB UI
(LMFEBUI)
PT Bank Tabungan Negara (Persero) Tbk 215
Page 218
Company
Profile
No. Award Name Events Organizer Date
SWA Network
Very Good - Employer Branding and Talent & Lembaga
56. HR Excellence Awards 2024 July 24, 2024
Acquisition Manajemen FEB UI
(LMFEBUI)
Enterprise Risk
57. ASEAN Risk Champion Award Category 2024 ASEAN Risk Award 2024 Management July 26, 2024
Academy (ERMA)
Gold Award - Social Pillar - TJSL & CSR Award
58. 4th TJSL & CSR Award 2024 BUMN Track July 30, 2024
2024
Gold Award - Economic Pillar - TJSL & CSR Award
59. 4th TJSL & CSR Award 2024 BUMN Track July 30, 2024
2024
Platinum Award - Environmental Pillar - TJSL &
60. 4th TJSL & CSR Award 2024 BUMN Track July 30, 2024
CSR Award 2024
Golden Property
61. Best SOE Bank Mortgage Provider The People Choice 2024 August 7, 2024
Awards
SustainLife &
62. Best ESG Investing Innovation ESG Initiative Award 2024 August 9, 2024
Business Update
SustainLife &
63. Best ESG Reporting & Transparancy ESG Initiative Award 2024 August 9, 2024
Business Update
SustainLife &
64. Best Sustainable Finance Leadership ESG Initiative Award 2024 August 9, 2024
Business Update
Best Integrated ESG Champion In Risk SustainLife &
65. ESG Initiative Award 2024 August 9, 2024
Management Business Update
Digital Banking Platform of The Year (BTNMobile,
Marketeers Editor’s Choice
66. BTN Properti, BTN Properti for Developer, BTN Markplus August 9, 2024
Awards 2024
Smart Residence).
Marketeers Editor’s Choice
67. Acquisition Campaign of The Year (Balé by BTN). Markplus August 9, 2024
Awards 2024
CEO & Executive Talks GRC
Governance Risk &
68. The Greatest Champions of GRC Excellence & Performance Excellence August 30, 2024
Compliance
Award 2024
CEO & Executive Talks GRC
Governance Risk &
69. The Best GRC for Board of Director 2024 & Performance Excellence August 30, 2024
Compliance
Award 2024
CEO & Executive Talks GRC
Governance Risk &
70. The Best Chief Executive Officer 2024 & Performance Excellence August 30, 2024
Compliance
Award 2024
CEO & Executive Talks GRC
Governance Risk &
71. The Best Chief Compliance Officer 2024 & Performance Excellence August 30, 2024
Compliance
Award 2024
Excellence in Innovation - Plus By BTN Prioritas 14th Year Global Banking & Global Banking &
72. September 9, 2024
Indonesia 2024 Finance Award Finance Review
73. Top GRC Golden Trophy 2024 Top GRC 2024 Top Business September 11, 2024
74. Top GRC Awards 2024 #Star 5 Top GRC 2024 Top Business September 11, 2024
216 PT Bank Tabungan Negara (Persero) Tbk
Page 219
2024
Annual Report
No. Award Name Events Organizer Date
75. The Most Committed GRC Leader 2024 Top GRC 2024 Top Business September 11, 2024
The High Performing Board of Commissioners on
76. Top GRC 2024 Top Business September 11, 2024
GRC 2024
Eko Waluyo Direktur Human Capital, Compliance
Indonesia Human Capital Economic Review
77. and Legal September 26, 2024
Awards (IHCA)-X-2024
Best HC Director 2024
Best Company In Human Capital 2024 Platinum Indonesia Human Capital Economic Review
78. September 26, 2024
Awards Awards (IHCA)-X-2024
Indonesia Contact
The Best Contact Center
79. The Best Manager – Silver Center Association September 11, 2024
Indonesia 2024
(ICCA)
Indonesia Contact
The Best Contact Center
80. The Best Quality Team – Gold Center Association September 11, 2024
Indonesia 2024
(ICCA)
Indonesia Contact
The Best Contact Center
81. The Best Business Contribution – Gold Center Association September 11, 2024
Indonesia 2024
(ICCA)
Indonesia Contact
The Best Contact Center
82. The Best Employee Engagement – Gold Center Association September 11, 2024
Indonesia 2024
(ICCA)
Indonesia Contact
The Best Contact Center
83. The Best Trainer Medium – Bronze Center Association September 11, 2024
Indonesia 2024
(ICCA)
Indonesia Contact
The Best Contact Center
84. The Best Technology Innovation – Gold Center Association September 11, 2024
Indonesia 2024
(ICCA)
Asian Experience Award The Asian Business
85. Indonesia User Experience of The Year – Banking October 3, 2024
2024 Review
Komite Nasional
86. 2nd Place - Publicly Listed Financial Company Annual Report Award 2023 Kebijakan October 7, 2024
Governansi
87. Pioneer Bank for Low-Emission Home Financing Detik.com October 17, 2024
Evaluasi Bank Penyalur
1st Place, Bank with the Highest FLPP Financing
88. Pembiayaan FLPP Q-3 BP TAPERA October 22, 2024
Distribution Growth in 2024
Tahun 2024
Evaluasi Bank Penyalur
2nd Place, National Bank with the Highest FLPP
89. Pembiayaan FLPP Q-3 BP TAPERA October 22, 2024
Financing Distribution in 2024
Tahun 2024
Global Retail Banking
90. Mortgage Product of the Year - ESG (Winner) The Digital Banker October 24, 2024
Innovation Awards 2024
Best ESG Initiative Global Retail Banking
91. The Digital Banker October 24, 2024
(Highly Acclaimed) Innovation Awards 2024
PT Bank Tabungan Negara (Persero) Tbk 217
Page 220
Company
Profile
No. Award Name Events Organizer Date
TOP Human Capital
92. TOP Human Capital Awards 2024 # 5 Star TOP Business October 30, 2024
Awards 2024
The High Performing Human Capital Director
TOP Human Capital
93. 2024 - Eko Waluyo, Direktur Human Capital, TOP Business October 30, 2024
Awards 2024
Compliance and Legal
World Financial
World Financial Innovation
94. Retail Banker of The Year Innovation Series November 13, 2024
Series 2024
(WFIS)
Indonesian Institute
Top 50 Listed Companies with the Largest
95. IICD CG Award 2024 for Corporate November 25, 2024
Market Capitalization (BigCap PLCs)
Directorship (IICD)
Most Trusted Company
Good Corporate
96. Based on Corporate Governance IICG & SWA November 25, 2024
Governance Award 2024
Perception Index (CGPI)
Conventional Banks Supporting the Best Foreign Bank Indonesia Award
97. Bank Indonesia November 29, 2024
Exchange Monetary Operation Innovation 2024
Investing on Climate PT Indonesia Media
98. Climate Finance Disbursement December 4, 2024
Editor’s Choice Award 2024 Network
Investing on Climate PT Indonesia Media
99. Best Literacy for Climate Resilience December 4, 2024
Editor’s Choice Award 2024 Network
IDIA Award Indonesia
Business Asia
100. Best CEO of The Year (Nixon LP Napitupulu) Digital Innovation December 11, 2024
Indonesia
Achievement 2024
IDIA Award Indonesia
Best Overall Digital Innovation & Implementation Business Asia
101. Digital Innovation December 11, 2024
2024 Indonesia
Achievement 2024
IDIA Award Indonesia
Business Asia
102. Best Digital Innovation & Implementation 2024 Digital Innovation December 11, 2024
Indonesia
Achievement 2024
Public Company with “Informative” Qualification
Komisi Informasi
in the Implementation of Monitoring and Anugerah Keterbukaan
103. Pusat Republik December 12, 2024
Evaluation of Public Information Disclosure in the Informasi Publik 2024
Indonesia
SOE Category
Best Indonesian Women Leaders 2024 Category Women Leader Award
104. Economic Review December 19, 2024
Bank Public Company Asset IDR >400T 2024
Evaluasi Bank Penyalur
105. 1st Place Bank for Tapera Financing Contribution Pembiayaan FLPP Q-3 BP Tapera December 23, 2024
Tahun 2024
Evaluasi Bank Penyalur
Peringkat 1 Bank Nasional dengan Penyaluran
106. Pembiayaan FLPP Q-3 BP Tapera December 23, 2024
Pembiayaan FLPP Tertinggi Tahun 2024
Tahun 2024
218 PT Bank Tabungan Negara (Persero) Tbk
Page 221
2024
Annual Report
Certification
ISO 37001:2016
Anti-Bribery Management System
Validation Indi 4.0 Level 3 Certificate
August 11, 2020 –
August 10, 2026 Validation
July 18, 2022 –
Certification Recipient July 18, 2025
Procurement and Fixed Asset Management Division
(PFAD), Commercial Certification Recipient
Banking Division (CMBD Kantor Pusat), Corporate PT Bank Tabungan Negara (Persero) Tbk
Banking Division (CBD)
Wholesale Credit Risk Division (WRD), Small Medium
Enterprise Banking Issued By
Division (SMBD), Credit Operation Division (COD) Ministry of Industry
Issued By
GSI
ISO 27001:2013 ISO 9001:2015
ISO 9001:2015
Information System Information System
Quality Management System
Management System Management System
Validation Validation
Validation
July 11, 2023 – December 17, 2024 –
March 19, 2021 –
October 31, 2025 December 16, 2027
January 6, 2024
Certification Recipient Certification Recipient
Certification Recipient
Data Center Transformation & Partnership
Non Subsidized Mortgage
Management Division
and Personal Lending Division
Issued By
Issued By Issued By
BSI
BSI SGS
PT Bank Tabungan Negara (Persero) Tbk 219
Page 222
Company
Profile
Information Available
on the Website
The Company has the official website with the address www. btn.co.id. This website contains the latest
information about the Company Corporation, whether it is e-Banking login for customers, information
about the Company and its products, profile, organization management and good corporate governance
transparency, to the latest news. This website is a publicly accessible portal, with the aim of providing
comprehensive information about the Company to the audience.
The Company is committed to continuously developing the website as part of the transparency of information
to the public.
https://www.btn.co.id/id/Tentang-Kami https://www.btn.co.id/Investor-Relation
Table of Company Group Structure Home on the “RUPS”
Corporate group structure and shareholder Information on General Meeting of
information up to the individual end owner Shareholders (GMS) covers at least materials
discussed in the GMS, GMS minutes summary
and important date information i.e. the the
date of GMS announcement, the date of GMS
Summon, the date of GMS holding and the
date of GMS Summary publication
220 PT Bank Tabungan Negara (Persero) Tbk
Page 223
2024
Annual Report
on the product
Ease of access https://www.btn.co.id/
to products and promotions
https://www.btn.co.id/id/Tata-Kelola
on the “Tata Kelola Perusahaan”
Contents of the Code of Conduct
Home on the “Laporan Perusahaan”
https://www.btn.co.id/Investor-Relation
Separate annual financial statements (last 5 years)
on the “Kepemimpinan”
Profile of the Board of Commissioners and the Board
https://www.btn.co.id/Tentang-Kami
of Directors
on the ESG
https://www.btn.co.id/Investor-Relation-Home Environmental, social, and corporate governance
(ESG)
on the “Tata Kelola Perusahaan”
https://www.btn.co.id/Investor-Relation
Manuals/Charters of the Board of Commissioners,
Board of Directors, Committees and Internal Audit
PT Bank Tabungan Negara (Persero) Tbk 221
Page 224
MANAGEMENT DISCUSSION AND ANALYSIS ON BANK PERFORMANCE Amidst challenging macro economic conditions, as well as a banking industry with tight liquidity. BTN’s Total Assets grew 7.03% to IDR469.61 trillion. In addition, BTN managed to achieve the target of third party funds in 2024 of IDR381.84 trillion or 100.61% of the 2024 target supported by an increase in current accounts in the Wholesale, Commercial, Corporate and Institutional segments. 222 PT Bank Tabungan Negara (Persero) Tbk
Page 225
PT Bank Tabungan Negara (Persero) Tbk 223
Page 226
Management Discussion
and Analysis on Bank Performance
Economic
Review
Global Economic Analysis
The dynamic of global geopolitical tensions will always The global interest rate downtrend also began in 2024
be monitored because it affects global financial market as inflation rates were increasingly under control. The
uncertainty, increasing inflationary pressures, and direction of the Federal Reserve System (The Fed) rate
declining prospects for world economic growth. In early downtrend was increasingly clear after it had lowered
2024, the world political tensions remained high with its benchmark interest rate by 100 bps to 4.25%-4.50% by
the ongoing conflict between Russia and Ukraine. After December 2024. Besides The Fed, the majority of Central
easing slightly, world geopolitical tensions rose again, Banks in the world also lowered their benchmark interest
triggered by Israel’s attack on Iran, causing tensions in rates such as the European Central Bank (ECB), Bank of
Middle Eastern countries. England (BoE), Bank of Canada (BoC) and others.
In addition, Trump’s victory in the United States (US) The dynamic of global geopolitical tensions also
election in November 2024 was expected to cause caused uncertainty in the financial market. In 2024, the
major changes in the global geopolitical and economic USD exchange rate continued to strengthen, causing
conditions in the future. Some of the policies that Trump a weakening in the exchange rate of developing
will take in his administration including the application currencies, one of which was Indonesia. The Rupiah
of high tariffs on goods entering the US, tax cuts, and exchange rate at the end of 2024 weakened to around
tightening the entry of illegal immigrants will have an IDR16,000/USD as the USD strengthened. In addition, the
impact on global economic developments such as yield on the United States Treasury (UST) also continued
increasing inflation rates, slowing economic growth, to strengthen, causing a weakening of foreign portfolio
and a decrease in the benchmark interest rate which is flows to developing countries.
expected to be slower than before.
Source: World Economic Outlook, International Monetary Fund (IMF),
January 2025
224 PT Bank Tabungan Negara (Persero) Tbk
Page 227
Annual
Report 2024
Indonesia Economic Analysis
Indonesia’s economic growth in the fourth quarter of 2024 again recorded positive results, and was again above 5%.
This indicates that the Indonesian economy remained strong amid the global economic slowdown. In terms of sectors,
the highest growth occurred in the other services sector, followed by the corporate services sector and transportation
and warehousing. Meanwhile, in terms of expenditure, the export component experienced the highest growth followed
by consumption by Non-Profit Institutions Serving Households (LNPRT) and household consumption.
Indonesia‘s Economic Growth Chart until the Fourth Quarter of 2024 (% yoy)
7.07%
5.72%
5.07% 5.02% 5.05% 5.02%
4.95%
2.97%
3.51%
(0.74%)
(2.19%)
(3.49%)
(5.32%)
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2019 2020 2021 2022 2023 2024
Source: Official Statistics News, Central Bureau of Statistics (BPS), February 2025
The national economic recovery continued until the National economic growth continued its positive trend
end of 2024. The development of leading indicators in the fourth quarter of 2024. Overall, the Indonesian
until December 2024 showed positive results, such as economy grew by 5.02% yoy at the end of 2024
the Consumer Confidence Index (CCI) which was still supported by household consumption and exports or in
high at 127.7, the manufacturing Purchasing Managers accordance with the government’s target. The general
Index (PMI) which was still at the level of 51.2, and the and core inflation rates remained under control with
Real Sales Index (IPR) which reached 220.3. The IMF in the coordination of Bank Indonesia, the Central and
the release of the World Economic Outlook in January Regional Governments which caused the inflation rate
2025 revealed that Indonesia’s economic growth in 2024 to remain at 2.5% ± 1.0% at the end of 2024. Meanwhile,
would be 5.0%, slightly restrained due to the impact of the Rupiah exchange rate was still influenced by the
the global economic slowdown. Meanwhile, in 2025, the dynamics of the global market so that pressure on the
Indonesian economy is predicted to improve and be at Rupiah continued and the Rupiah exchange rate against
the level of 5.1%. the US Dollar was in the range of IDR15,900-16,100/USD at
the end of December 2024.
Meanwhile, on the monetary side, BI still maintained its
benchmark interest rate at 6.00% in December 2024. The Source: Official Statistics News, Central Bureau of Statistics (BPS), February
focus of monetary policy was directed at strengthening 2025; International Monetary Fund (IMF), World Economic Outlook, January
2025
the stability of the Rupiah exchange rate from the
impact of increasing geopolitical and global economic
uncertainty with political developments in the United
States (US).
PT Bank Tabungan Negara (Persero) Tbk 225
Page 228
Management Discussion
and Analysis on Bank Performance
Banking Industry Analysis
The positive trend of Indonesia’s economic growth also The banking industry’s liquidity in November 2024 was
occurred in the national banking industry. The Financial at an adequate level with maintained liquidity ratios.
Services Authority noted that the performance of the The Liquid Asset/Non-Core Deposit (AL/NCD) ratio was
financial services sector, especially banking, in 2024 was 112.94%, decreasing compared to October 2024 which
still solid with available capital and liquidity indicators was 113.64% or still far above the regulatory threshold
and maintained credit risk. The banking intermediation of 50%. Meanwhile, Liquid Assets/TPF (AL/TPF) was
function in November 2024 again recorded an increasing 25.57%, remained stable compared to the achievement
trend with credit growing double digits by 10.79% yoy. in October 2024 which was 25.58%, and still above
This growth was mainly supported by investment credit the regulatory threshold of 10%. In general, the bank’s
which grew by 13.77% yoy. On a monthly basis, nominal profitability level (Return on Asset/ROA) was 2.69%,
banking credit growth increased by IDR60 trillion to indicating that the banking industry’s performance
IDR7,717 trillion. Meanwhile, Third Party Funds (TPF) in remained resilient and stable. In terms of capital, the
November 2024 were recorded to have grown by 7.54% banking industry’s Capital Adequacy Ratio (CAR) in
yoy to IDR8,836 trillion, mainly driven by an increase in November 2024 was recorded to have decreased
current accounts of 10.97% yoy. Credit risk continued to slightly to 26.87% from the position in October 2024
decline with a banking NPL ratio of 2.19%. On the other which was 27.02%.
hand, Loan at Risk (LaR) also showed a downward trend
to 9.28%, or below the pre-pandemic level of 9.93% in Source: Indonesian Banking Statistics (SPI), Financial Services Authority,
December 2019. November 2024.
Housing Industry Analysis
As a bank that focuses on housing financing, the Company continuously analyzes the housing industry. The real estate
sector again recorded positive growth of 2.97% yoy in fourth quarter of 2024, an increase compared to the growth in
third quarter of 2024 of 2.32% yoy. The real estate sector was one of the sectors that recorded positive growth even
though the economy contracted during the Covid-19 pandemic. Meanwhile, the construction sector also recorded
growth of 5.81% yoy after the previous quarter was recorded at 7.48% yoy. The housing sector still has a lot of room to
grow considering the high national housing backlog and the high number of people who do not have decent homes
as well as the 3 (three) million homes program promoted by President Prabowo Subianto.
Graph of Sectoral GDP Growth until Quarter IV 2024
Q4 2023 Q3 2023 Q4 2024
10.33
12
8.64
10
7.92
7.68
7.48
7.46
7.45
6.86
6.74
6.56
8
5.81
5.49
5.19
4.89
4.82
6
4.72
4.09
4.07
3.95
3.94
3.46
2.95
2.97
4
2.63
2.51
2.32
2.18
1.74
1.69
1.61
2
1.16
1.12
0.71
0
Manufacture
Agriculture
General Trading
and Retail
Construction
Mining
Information and
Communication
Financial
Service and
Insurance
Governmental
Administration
Transportation
and Warehousing
Educational
Service
Real
Estate
Source: Official Statistics News, Central Bureau of Statistics (BPS), February 2025
226 PT Bank Tabungan Negara (Persero) Tbk
Page 229
Annual
Report 2024
The extension of the Government’s stimulus in the housing sector has boosted demand for housing until fourth quarter
of 2024. The stimulus included the relaxation of the LTV/FTV ratio of Property Credit/Financing to a maximum of 100% for
all types of property and the Government-borne Value Added Tax (PPN DTP) policy which took effect from November
2023 to December 2024 and will be continued until December 2025. The magnitude of this Government support can be
seen in the growth of National Mortgage (KPR) until fourth quarter of 2024 which grew by double digits to reach 10.00%
yoy. Meanwhile, the growth of total national credit grew to 10.39% yoy, decreasing compared to third quarter of 2024
which was 10.85% yoy.
Comparison Graph of Total Credit and Mortgage (KPR) Growth
Mortgage (KPR) 14.20% 13.97%
12.66% 12.48%
Total Credit
10.80%
10.82% 12.36%
10.00%
10.55% 11.35%
11.00%
9.32% 9.55% 10.66% 9.93% 10.38% 10.85%
8.00% 7.82% 8.96% 10.39%
7.56%
7.22% 7.06% 7.76%
6.81% 6.87%
6.40% 6.67%
5.24%
4.30%
3.50% 3.50%
2.21%
2.10%
0.59%
1.49%
0.12%
2.41%
3.77%
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2020 2021 2022 2023 2024
Source: Indonesian Banking Statistics, Financial Services Authority (OJK), December 2024
Housing Finance Center of BTN released the House Price Index (HPI) in fourth quarter of 2024, with an index of 228.64
and growth of 6.44% yoy. The growth of BTN HPI was driven by the strengthening of house types, both small houses (21-
36m2), medium houses (37 m2-45m2), and large houses (46 m2-70m2). The growth of this house price index reflects the
continued high demand for houses in the country amidst the national economy which is still facing challenges along
with the global economic slowdown.
Graph of House Price Growth according to House Price Index in the Fourth Quarter of 2024
Index QoQ YoY
12.00 250.00
10.00 200.00
9.55
8.00 8.66 8.99
8.25
7.14 150.00
6.00 6.80
6.56 6.58 6.14 6.44
6.00
5.24 5.44 5.64 100.00
5.02
4.00 4.29 4.23 4.94
3.01 2.78 50.00
2.00
2.05
0.31
1.59 1.16 1.55 1.78 1.50 1.57 1.78 1.57 1.53 1.68
1.11 1.07 1.03 1.39
0.00 0.00
Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec
2020 2021 2022 2023 2024
Source: Housing Finance Center BTN, December 2024
PT Bank Tabungan Negara (Persero) Tbk 227
Page 230
Management Discussion
and Analysis on Bank Performance
Analysis of BTN in the Banking Industry
Until Desember 2024, Company remained solid as the 5th (five) largest bank in terms of assets, with total assets
reaching IDR470 trillion or growing by 7.15% yoy. This increase was also supported by an increase in credit and financing
which grew by 7.27% to IDR358 trillion and third party funds which grew by 9.12% to IDR382 trillion.
Comparison Chart of Assets and Credits December 2024 (Including Sharia Business Units)
(IDR trillion)
11.16% (yoy) 20.72% (yoy) 0.28% (yoy) 6.09% (yoy) 2.59% (yoy) 13.64% (yoy) 3.40% (yoy) 10.70% (yoy) 7.03% (yoy) 7.27% (yoy)
1,877 1,835 1,840
1,689
1,311 1,371 1,406
1,146 1,216
1,086 1,049 1,084
895
787 688 762
439 470
334 358
December December December December December December December December December December
2023 2024 2023 2024 2023 2024 2023 2024 2023 2024
15.55% (yoy) 15.92% (yoy) 12.53% (yoy) 10.72% (yoy) 6.87% (yoy) 5.65% (yoy) 12.53% (yoy) 9.10% (yoy) 9.24% (yoy) 7.91% (yoy)
354 409 328 351
240 278 250 281 207 219 257 259 203 222
153 170 142 155 145 156
December December December December December December December December December December
2023 2024 2023 2024 2023 2024 2023 2024 2023 2024
Aset Kredit
Comparison of Third Party Funds December 2024 (Including Sharia Business Units)
(IDR trillion)
6.82% (yoy) 0.55% (yoy) 2.51% (yoy) -1.13% (yoy) 9.07% (yoy)
1,329 1,353 1,361
1,244
1,083 1,110
802 793
350 382
December December December December December December December December December December
2023 2024 2023 2024 2023 2024 2023 2024 2023 2024
11.46% (yoy) 13.32% (yoy) 10.34% (yoy) 1.17% (yoy) 8.97% (yoy)
294 327 206 262
182 237 188 186 139 151
December December December December December December December December December December
2023 2024 2023 2024 2023 2024 2023 2024 2023 2024
228 PT Bank Tabungan Negara (Persero) Tbk
Page 231
Annual
Report 2024
In 2024, competition occured across all Company business lines. Challenging macroeconomic conditions, as well as
the banking industry still experiencing tight liquidity, caused competition to obtain funding, especially retail funding
that offers lower funding costs, to become increasingly intense. Company competed with other banks especially in
terms of extension and convenience of distribution channels, product range, price, speed of service to customers, and
reserves for technology services.
Company will likely continue to face competition from a number of financial institutions that offer a wider range of
banking products and services or loans with larger limits or have greater financial and other resources than Company.
Many financial institutions will compete for the same target customers as Company, and many institutions have access
to governments or business groups with greater financial resources. Several of Company‘s competitors have formed,
and are expected to form, strategic alliances with several foreign banks with significantly greater management and
financial resources.
Graph of Outstanding Housing Loans Comparison of Banks in Indonesia December 2024 (in IDR trillion)
BTN 280
BCA 130
BNI 67
Mandiri 66
BRI 59
CIMB Niaga 42
Source: Corporate Presentation of each Bank
PT Bank Tabungan Negara (Persero) Tbk 229
Page 232
Management Discussion
and Analysis on Bank Performance
Operasional
Overview
Bank Strategy
The Bank’s strategic plans consists of long-term strategy (corporate plan), medium term, and short term (business
plan).
Long-Term Strategy (Corporate Plan)
Company carries the 2029 aspiration as a strategic growth of Indonesian families. The Company carries
step to realize its vision of becoming a Leading Partner out family financial empowerment which is the key to
in Empowering the Financial of Indonesian Families. national economic progress. Thus, Company focuses on
Through leading digital innovation, expansion of strengthening synergies with various parties, providing
inclusive financial products and services, and increasing easily accessible financial solutions, and increasing
accessibility for all Indonesian people, Company is financial literacy in various levels of society.
committed to supporting the sustainable financial
BTN 2029 Aspirations to Achieve Vision
Leading partner in empowering the financials of Indonesian families
Build a sustainable savings account engine to capture ~150 Tn
Capturing 3% of SA from top 20 largest provinces, launching innovative propositions for value-chain payroll, first-time home
buyers and cash-rich self- employed professionals, and becoming transactional bank for customers and businesses through
enhanced transaction banking capabilities
Empower Indonesia families in disbursement enabling their dream of home
ownership with IDR450 Trillion in disbursement
Supporting -1.2mn subsidized mortgage and ~350k non-subsidized mortgage customers; empowering ~30k housing related SMEs
through propositions across the life-cycle
Become a financial partner for consumers and businesses providing full
suite of everyday banking solutions
Enhancing consumer product holding through HYL (-8% loan book), investments and payments solutions; expand share of
non-housing related business lending (~18% loan book) and grow FBI (~20% revenue); higher conversion of incoming mortgage
customers to full banking (majority as primary bank)
Build a high-quality portfolio with operational efficiency
Building digital and efficient operations (CIR <50%) and strengthened customer service culture across the bank; Maintaining low
NPL (<2.3%) rate across economic cycles powered by advanced-Al driven underwriting and collections process
Expand offerings through 3 subsidiaries
Becoming true #2 Syariah banking contender in Indonesia; launching and scaling multi-finance (IDR2.5 Trillion loan
disbursement) and insurance subsidiaries (IDR2 Trillion GWP) to have full-suite of banking offerings
230 PT Bank Tabungan Negara (Persero) Tbk
Page 233
Annual
Report 2024
In the next 5 (five) years, Company has long-term aspirations that aim to achieve the vision of “Main Partner in Financial
Empowerment of Indonesian Families”, with the following journey:
Bank BTN Strategy Journey in 2025-2029
2025 2026-2027 2028-2029
Strengthen engine for Broaden product Deliver full-banking
sustainable funding propositions and offerings with superior
cross-selling customer experience
Company’s journey towards a stronger future begins in 3. Transition from Mono Bank Lending to Full Banking
2025 with a focus on Strengthen engine for sustainable Offerings
funding. The Company strengthens sustainable funding The transition strategy from mono-bank lending to
mechanisms to support long-term operations. In the full banking offerings aims to change the business
period 2026-2027, Company will develop a strategy to model that previously focused only on providing
broaden product propositions and cross-selling, expand loans to become a more complete banking service
the product portfolio and increase synergies between provider. The initiatives will be undertaken to achieve
products to meet customer needs more comprehensively. this target in 2025-2029.
In the final phase in 2028-2029, Company aims to deliver 4. Subsidiary Participation
full-banking offerings with superior customer experience, Considering the bank’s business position that
offering complete banking services with a superior focuses on the housing sector, there are business
customer experience, ensuring customer satisfaction opportunities that can be increased by maximizing
and loyalty in every aspect of the services provided. the potential of captive customers and the property
value chain. To realize this, a focused product and
From the journey, work programs/initiatives are service diversification and differentiation strategy is
proposed to achieve the set targets. The strategies and needed, which is carried out through an inorganic
work programs that are included in the business area growth strategy. In 2025-2029, capital participation
are as follows: activities will be focused on subsidiaries of venture
1. Building Sustainable Funding Engine capital companies and investment management
To increase funding, a strategy will be implemented companies, insurance companies, multifinance
to increase low-cost savings, targeting the companies, and Islamic banks.
independent professional segment, increasing 5. Strategic Objectives, Business Strategy, Policies,
penetration for the trade sector, and the SME value and Work Programs of Business Support Functions
chain. In addition to business strategies, other strategies
2. Monetizing the Housing Ecosystem at Large Scale are needed to support all business activities to
The strategy of monetizing the housing ecosystem support activities in achieving aspirations in 2029.
at a large scale aims to generate revenue from
the entire housing ecosystem by utilizing various
business opportunities related to the property
industry with a strategy of increasing non-sub
lending and increasing housing value-chain
penetration.
PT Bank Tabungan Negara (Persero) Tbk 231
Page 234
Management Discussion
and Analysis on Bank Performance
Medium – Term Strategy 5. Updating existing IT to support collection including
collections management system.
Company’s medium-term strategy for the 2025- 6. Preparing early stage asset sales/handling solutions
2027 period is in line with the strategic themes of the (Pre-NPL) and expanding the scope of asset
company’s long-term plan, targets, and strategic management subsidiaries.
initiatives for each business area as follows:
Funding Sector
Credit Sector
To achieve the funding target, the strategic initiatives
Initiatives to expand the credit business in the short and undertaken in the short and medium term are to build
medium term include: a sustainable funding engine through the following
1. Monetize housing ecosystem at-scale by: approaches:
a. Deepening relationships with top 50 developers. 1. Launching a bundled payroll proposition to increase
b. Strengthening the acquisition channel, namely penetration within the existing ecosystem and
the agent network and enhanced processes. expand outreach to NTB customers.
c. Increasing penetration in the housing value- 2. Becoming the primary/secondary bank for first-
chain by strengthening relationships with anchor time homebuyers with a product bundle focused on
clients. millennials.
d. Releasing sector-specific product bundles for 3. Encouraging customer acquisition and BTN mobile
construction and real estate companies across transaction accounts through the launch of a retail
the end-to-end lifecycle. deposit war room.
2. Transition from mono-Bank lending to full Banking 4. Expanding the penetration of wealth propositions
offerings through: among existing cash-rich customers and hidden
a. Increasing higher yielding products-improving affluent customers within BTN’s ecosystem.
capabilities, expanding KAR/KRING to new 5. Launching a need-based proposition targeting
segments. “cash-rich” professional entrepreneurs.
b. Encouraging penetration and activation of fee- 6. Launching a merchant proposition targeting small
based income products. and medium-sized enterprises (SMEs) in the retail
c. Increasing volume and profitability of Joint food and restaurant sector.
Finance Scheme (B2B) and channeling 7. Launching a deposit war room targeting wholesale
partnerships. clients and top SMEs to drive CASA penetration.
d. Expanding KUMK to the SME sector with high 8. Transforming the role of Branch Funding Sales (BFS)
growth and low NPLs. based on segment-specific responsibilities.
e. Moving into high growth and low NPL sectors for 9. Establishing a centralized monoline payroll team
KUR. to increase payroll penetration among institutional
clients
Credit Quality and Financing Sector
Other Operating Income Sector and
To achieve the target of improving credit quality, the Subsidiaries Establishment Other Operating
strategic initiatives undertaken in the short and medium Income
term are strengthening risk underwriting and collections
process to sustainably grow portfolio, addressing To increase profitability, BTN business plan in the
high restructured portfolio and expediting late- next three years is also focused on improving Other
stage recovery by setting-up an asset management Operating Income (POL) which is mostly sourced from
subsidiary through: fee-based income, especially on new sources based on
1. Improvement of existing underwriting models by transactions and services.
integrating advanced AI modeling approaches and
incorporating external data sets. To achieve these targets, the strategic initiatives
2. Integrating STP processing with different swim-lanes undertaken in the short and medium term are as follows:
to improve customer experience. 1. Increasing fees from treasury and forex transactions.
3. Enhancing fraud management approach including 2. Increasing fee-based income from credit business
next-gen fraud management system. (syndication, insurance kick-back, and credit
4. Reducing the portion of restructured loans in the administration outside subsidized mortgages).
portfolio.
232 PT Bank Tabungan Negara (Persero) Tbk
Page 235
Annual
Report 2024
3. Increasing fee-based income from digital and Sharia Business Sector
wholesale banking transactions by:
a. ccelerating the implementation of online In 2022, the World Bank had already predicted the
acquiring features. potential for a global economic recession in 2023. The
b. Accelerating the implementation of Quick indications mentioned are gradually starting to be felt.
Response Code Indonesian Standard (QRIS) The global economic growth rate in 2023 still shows
Border and QRIS Customer Presented Mode. signs of slowing down. Although the rate of economic
c. Developing Visa Paywave to increase slowdown was not as severe as in 2022, which dropped
transactions and fee-based retail customers. by approximately 44.4%, from 6.3% (2021) to 3.5% (2022),
4. Developing fee-based from new sources through: global economic growth was recorded to slow down
a. Development of e-Guarantee to increase fee with a decrease of 14%, from 3.5% in 2022 to a growth
based in the wholesale banking segment. rate of 3% in 2023.
b. Increasing fee based from priority banking
services through product development, including The economic activity in Indonesia has continued to
Government Securities (SBN), insurance grow into early 2024, especially driven by consumption
products, and mutual funds. factors due to Ramadan and Eid al-Fitr, as well as
c. Increasing fees sourced from Bank Guarantees national political activities. The productive sector has
(BG), Domestic Letters of Credit (SKBDN), Supply also begun to show improvements after the lifting of
Chain Financing (SCF), Cash Management the Covid-19 pandemic status. However, there are
System (CMS) in the corporate segment and some risks to consider, such as tensions in the Middle
wholesale. East, global inflation pressures, interest rate policies by
the Fed, and uncertainty in global financial markets.
Subsidiary Establishment Plan The International Monetary Fund (IMF) estimates that
Indonesia’s economic growth in 2024 will reach 5%,
Considering Company’s business position, which despite being slightly hindered by the global economic
focuses on the housing sector, there are business slowdown.
opportunities that can be enhanced by maximizing the
potential of captive customers and the property value In March 2024, banking financing disbursement
chain. To achieve this, a strategy of product and service experienced a growth of 12.40% (yoy), reaching a total of
diversification and differentiation is required, which will IDR7,245 trillion. This figure shows an increase compared
be carried out through inorganic growth strategies. to the growth in February 2024, which was 11.28% (yoy).
From 2025 to 2029, capital participation activities will be In terms of ownership, state-owned banks (Bank BUMN)
focused on subsidiaries in venture capital companies, were the main drivers of financing growth with an
investment management companies, insurance increase of 13.72% (yoy). In addition, Third-Party Funds
companies, multifinance companies, and Islamic (DPK) also recorded positive growth in March 2024, with
commercial banks. The efforts Company will undertake an increase of 1.90% month on month (mom) or 7.44%
in its plans to establish subsidiaries are as follows: (yoy), bringing the total to IDR8.601 trillion. The main
1. Capital participation schemes in existing insurance contributor to DPK growth was demand deposits, which
companies or the establishment of new insurance grew by 9.37% (yoy).
companies.
2. Capital participation in existing multifinance In the April 2024 Meeting of the Governor’s Board (RDG),
companies or the establishment of new multifinance Bank Indonesia (BI) decided to raise the BI Rate to 6.25%,
companies. the Deposit Facility rate to 5.50%, and the Lending Facility
3. Planning the implementation of a spin-off in 2025, rate to 7.00%. This policy is aimed at strengthening the
with preparations that have been ongoing since 2021 stability of the rupiah exchange rate from the worsening
as part of the business development strategy for the global risk impacts and as a preemptive and forward-
UUS (Unit Usaha Sharia). looking measure to ensure that inflation in 2024
4. To accelerate growth, the planned spin-off model remains under control within BI’s target, in line with the
will involve transferring UUS BTN’s assets to the monetary policy stance that is pro-stability. Meanwhile,
established Islamic Commercial Bank (BUS). macroprudential and payment system policies remain
5. For the capital participation in the formed Islamic pro-growth to support sustainable economic growth.
Commercial Bank, Company will become the In line with economic growth, banking intermediation is
controlling shareholder with majority ownership. also expected to continue growing with tighter liquidity.
PT Bank Tabungan Negara (Persero) Tbk 233
Page 236
Management Discussion
and Analysis on Bank Performance
In the sharia sector, the growth of sharia banking financing has exceeded conventional banks. According to BI data,
financing by sharia banks grew by 14.7% (yoy) as of May 2024. This growth is higher compared to conventional banks,
which grew by 12.8% (yoy). This growth is also supported by the halal ecosystem policies and the strengthening of
sharia economic institutions driven by the government.
Growth Trends of the Islamic Finance Industry
Sharia IKNB Sharia Banking Capital Market Total Sharia Financial Assets
3000
2452.56
2375.83
2500
2050.52
2000 1801.45
IDR Trillion
1457.73
1427.46
1468.12
10.81%
1235.83
1500 1289.67
1076.22
Market Share of
802.26
824.19
831.95
Sharia Financial
702.96
693.80
1000
608.90
538.32
489.69
Industry
500
162.88
120.89
146.12
105.61
116.33
97.02
0
2018 2019 2020 2021 2022 2023-Sep
Source: Sharia Economic Outlook 2024
This increase is in line with the growth trend of the Capital Strengthening
Islamic finance industry over the past 5 (five) years.
This also indicates that various policies to strengthen Supporting soundness and sustainable business growth
the Islamic economy have paid off. However, the requires strong capital support by considering the
current market share of the Islamic finance industry is fulfillment of the bank’s minimum capital requirements
still around 10.81% which indicates the huge potential following Basel III. According to OJK Regulation Number
that can still be achieved considering the total Muslim 27 of 2022 concerning second amandment to the OJK
population in Indonesia is 84.35% or around 236 million Regulation number 11/POJK/02/2016 concerning the
people. Requirement to Provide Minimum Bank Capital, which
banks must provide capital in the form of minimum
In line with the potential of national sharia banking, capital based on risk rating and additional capital as
BTN’s Sharia Business Unit (UUS) also experienced a buffer based on Basel III (there are 3 types, namely
unidirectional business growth. This is demonstrated by capital conservation buffer, countercyclical buffer,
the performance that continues to grow and the ability capital surcharge).
of UUS BTN which continues to grow. In December 2024,
UUS BTN showed optimal performance, where asset Company’s capital strengthening strategies include:
growth increased by 11.55% (yoy) from IDR54.29 trillion 1. Increase the Bank’s profitability.
in December 2023 to IDR60.56 trillion in December 2024 2. Issuance or extension of bonds/subordinated loans.
(audited). The asset growth was supported by financing
of IDR43.89 trillion, growing 18.36% (yoy) and deposits of
IDR49.62 trillion, growing 18.71% (yoy). In addition to this
asset growth, sharia profit increased by 24.21% (yoy)
from IDR702.34 trillion in December 2023 to IDR872.40
trillion (audited).
234 PT Bank Tabungan Negara (Persero) Tbk
Page 237
Annual
Report 2024
Human Capital Sector 3. Developing a recruitment scheme from outsourcing
to direct employees based on the outstanding
In order to realize one of the Company’s missions in performance of outsourced workers.
the field of Human Capital, which is “To be the home 4. Developing sales capabilities by establishing a sales
for Indonesia’s best talent,” the human resource academy, particularly for the funding business line.
development programs in the short and medium term 5. Accelerating the capabilities of IT, digital, analytics,
are aligned with the Corporate Plan for 2025-2029. risk management, and collections employees.
6. Re-inventing BTN DNA (for all BTN employees and
To achieve this aspiration, five end-state dimensions leadership roles).
are formulated as parameters for success in achieving 7. Refining sales KPIs to make them more focused.
the condition of “One of the Homes of Indonesia’s Best 8. Developing sales productivity measurement.
Talent,” which are: 9. Developing pillars and programs for digital culture
1. Talent Magnet, meaning Company becomes one and strengthening sales and GRC (Governance, Risk,
of the top-of-mind employers for the best talent and Compliance) culture.
in the market, both for professional hires and fresh 10. Developing HCIS Phase 3 (advanced people
graduates. analytics and digital workforce planning).
2. Employee Productivity, meaning BTN employees’ 11. Implementing personal cost planning, phase 1: HC
productivity is above the average of the top 10 banks. cost as a baseline productivity measurement and
3. Talents, Leadership, and Capabilities Development, CIR components in self-funded incentives.
meaning BTN employees possess strong leadership
abilities at all leadership levels and critical MEDIUM TERM INITIATIVE
capabilities aligned with the bank’s strategy. 1. People Analytics and Employee Experience
4. Employee Wellbeing and Experience, meaning BTN a. Developing HC Business Partner (HCBP)
becomes a comfortable workplace, offering growth capabilities to align HC strategy with business
opportunities, career development, and providing a and answer bank needs by implementing HCBP
positive employee experience. at the end state stage, namely at the Division
5. HC Operational Excellence and Technology, meaning Level.
efficient Human Capital management, satisfying HC b. Refining the HC organizational structure and
services, and a role as an effective business partner designing a grading system that is aligned with
by optimizing technology utilization. business needs:
- Strengthening learning organizations and
To achieve the mission above, a long-term Human learning center infrastructure.
Capital strategy for 2025–2029 is formulated under - Implementation of a new grading system.
the theme “Dynamic Workplace Filled with Productive, c. Implementing a multi-sourcing strategy and
Prominent, and Prosperous Global-Oriented Talent,” running an onboarding program for new recruits
focusing on: and internal movements.
1. Developing employees to have high productivity, d. Describing dual career paths (specialist and
superior capabilities, competitiveness, and generalist career paths) for critical positions.
competitive employee welfare, with a global e. Improving a self-learning learning culture with
orientation. the 70-20- 10 learning method.
2. Developing a dynamic work environment that f. Aligning remuneration systems and incentive
provides a best-in-class employee experience. programs to attract, retain, and motivate
employees.
Initiative g. Activating and implementing the 4 (four) Pillar
Employee Value Proposition (EVP) program.
Short and medium term initiatives are outlined as h. Implementing an integrated HCIS to support
follows: operational excellence, data-based decision
making, and provide a seamless employee
SHORT TERM INITIATIVE experience, through:
1. Optimizing the role of Human Capital Business - Digitalization of recruitment, and onboarding.
Partner as a strategic business partner. - Recruitment and onboarding people
2. Aligning the workforce posture to be in line with analytics.
the business strategy, specifically increasing the - Integration of Performance Management
proportion of sales, especially funding, and digital System (PMS), Learning Management
workforce (IT, data analytics, and digital). System (LMS), and Succession Individual
Development Plan (IDP).
PT Bank Tabungan Negara (Persero) Tbk 235
Page 238
Management Discussion
and Analysis on Bank Performance
- Integration of talent management system standards for continuous improvement through the
and people analytics. following:
2. Scale Up and Deep Dive 1. Strengthening the implementation of ISO SMAP.
In this phase, all initiatives that have been running in 2. Implementing corporate governance ISO standards.
2022-2024 will be strengthened, including: 3. Strengthening the implementation of ACGS and
a. Aligning remuneration systems and incentive PUGKI parameters.
programs to attract, retain and motivate 4. Strengthening the implementation of SMAP
employees, including through: compliance assessments.
- Transition of basic salary and position 5. Implementing the integration of COI management.
allowances. 6. Implementing competition law compliance
- Continued development for variable pay programs.
components in business families. 7. Strengthening the channels for reporting gratuities.
b. Implementing an integrated HCIS for data-based 8. Implementing the ISO Governance Maturity Model.
decision making, as well as providing a seamless 9. Strengthening the implementation of governance in
employee experience ESG.
- Digitalization of workforce planning through 10. Rating and assessing ACGS, CGPI, and SPI.
integrated man power planning in the HC
Information System (HCIS). Compliance Enhancement
- Man power planning people analytic
- Scale up people analytics capabilities to To enhance operational resilience in supporting business
provide predictive functions. growth and to create a Compliance Culture at every
level of the organization and business activities of the
IT Infrastructure Bank, the GRC Roadmap Company 2025-2029 has been
developed regarding the implementation of the Bank’s
To support the corporate plan, business aspirations Compliance Function, which includes the following:
and vision of Company a “The Best Mortgage Bank 1. Developing a Regulatory Compliance System to
in Southeast Asia in 2025”, Company prepared 6 mitigate Compliance Risk arising from non-fulfillment
(six) themes in the IT strategic plan for 2021-2025. In of compliance obligations for each regulation issued
implementing the 2021-2025 IT strategic plan, Company by the regulator.
carries three main annual themes as follows: 2. Developing an integrated Compliance Dashboard
1. 2022: Start to Scale with the Fraud Detection System so that it becomes
2022 began with preparations for large-scale real-time and embedded in business processes,
changes at Company. Initiatives related to the continuously developed.
implementation of an agile-based multi-speed 3. Building and developing a Data Privacy Framework
Information Technology operating model. Study of to ensure compliance with regulations related to
critical systems that could be upgraded/ replaced. personal data, with a Data Privacy Management
In this phase, the initiatives carried out also focused System to ensure real-time monitoring and
on increasing Information Technology maturity. integration into all business processes and services.
2. 2023: Expand the Transformation 4. Strengthening the IT compliance organizational
Continue executing upgrade/replace and/ structure to accommodate Advisory, Governance,
or enhancement of critical systems that have Reporting, and Assurance functions.
been identified. Continuing agile based system 5. Strengthening the governance of reporting for
development (such as digital channels). APUPPT, PPPSPM, and the Bank’s compliance through
3. 2024-2025: Continuous Improvement improving employee competencies, integrated
Focus on improving/enhancement of non-critical management information systems, and utilization.
systems, process improvements to increase
Information Technology maturity. Risk Management Improvement
Good Corporate Governance (GCG), Company has undergone a transformation to achieve
Risk Management and Compliance its 2025 vision of becoming “The Main Partner in
Financial Empowerment for Indonesian Families,” but it
Good Corporate Governance (GCG) still requires a long-term sustainability framework for
Improvement the company. In support of its long-term plan, Company
needs to remain a bank with sustainable profitability
In line with the GRC Roadmap BTN 2025-2029, a roadmap and continue to implement strategies and initiatives
has been developed to strengthen governance related to risk management, including:
236 PT Bank Tabungan Negara (Persero) Tbk
Page 239
Annual
Report 2024
1. Enterprise Risk Management i. Improving risk assessments for specific non-fixed
a. Strengthening risk culture with leadership income segments through the development
commitment and role modeling. of an analytic model for non-fixed income and
b. Establishing clear leadership accountability for developing the competency of credit analysts
risk management and developing leaders who by:
are aware of risks. - Formulating risk criteria for targeted
c. Optimizing risk-based portfolio management segments and overlay models to increase
by diversifying the portfolio across products, approval rates.
performing risk-based portfolio allocation, - Determining the priority target segments:
segmentation, sectorial, and risk-return analysis. existing debtors, funding customers, and
Company has begun implementing portfolio new-to-bank customers to manage risks
guidelines for wholesale credit as a control during the implementation phase.
mechanism for credit concentration risk, while - Building proxy income models to project
upholding the principles of prudence and the income growth of debtors and potential
governance. debtors in credit limit assessments and
d. Conducting risk modeling to deliver optimal standardized recommendations and
balance sheet management in managing Asset decisions.
Liability Management (ALM), performing stress - Refining credit policies according to risk-
tests, assessments, and optimizing revenue from based segmentation.
ALM management. j. Establishing an SME Processing Center as a
e. Company implements enterprise risk platform supporting SME credit growth.
management with a focus on increasing the k. Maintaining a low Non-Performing Loan (NPL)
bank’s value. Productivity improvement is rate across all segments through strong risk
achieved through risk management aligned monitoring. Development of the Commercial
with the transformation of Company’s operating Loan Early Warning System (EWS) to strengthen
model to focus more on performance and the monitoring of commercial credit risks through
profitability. standardization, digitalization, and development
f. Improving credit business processes through the of guidelines and tools. Company will develop
centralization of credit operations (CBC, SME, and the EWS by setting risk parameters that indicate
consumer) to enhance checks and balances and the deterioration of individual commercial credit
strengthen the risk framework by implementing debtor quality, which will help credit departments
appropriate risk guidelines. take immediate actions to prevent troubled
g. Improving the decision-making process and loans.
quality of consumer credit by accelerating credit l. Plans for the spin-off of BTN’s Sharia Business
approval processes through data analysis using Unit (UUS) in the third quarter of 2025, currently
CSM. Additionally, Company has implemented undergoing limited due diligence focused on
collection scoring to assist the collection team in finance, legal, and valuation aspects for potential
determining the priority scale for debt collection investee.
based on the risk level (high, medium, and low 2. Environmental, Social, and Governance (ESG)
risk) to ensure the effectiveness and efficiency of Environmental, Social, and Governance (ESG) The
credit management. Company has developed an ESG framework called
h. Improving commercial credit underwriting The Future of Finance. This ESG framework guides
processes, enhancing commercial credit quality, Company in managing and conducting business
and supporting the implementation of the practices that focus on impact performance
new Business Process Improvement (BPI) and and support the achievement of the Sustainable
Commercial Banking Center (CBC) functions Development Goals (SDGs). This framework serves
as the centralization of commercial credit as the foundation for managing business activities
processing. For the SME segment, Company is and operations as well as decision-making
also implementing the UMKM Process Center processes in a more comprehensive manner. The
(SPU) to improve the process and management BTN ESG framework consists of six components: a.
of SME credits, enhancing productivity, the quality Sustainable finance.
of centralized credit decisions, objectivity, and a. Sustainable finance.
monitoring. b. Climate change and ecosystems.
PT Bank Tabungan Negara (Persero) Tbk 237
Page 240
Management Discussion
and Analysis on Bank Performance
c. People and communities. b. Right-to-target offering by advantaging big
d. Stakeholder inclusiveness. data analytical advantage to obtain product or
e. ESG in the value chain. service recommendations for each customer.
f. Integrated governance, risk management, and c. Customer value management through offering
compliance (GRC). broad and universal products and services.
However, it is more focused on the main needs of
Network Development Sector customers (customer centric).
(Delivery Channel)
Long-Term Strategy
Optimization of delivery channels to support business is
carried out through developing the quantity and variety Guided by the strategic themes of the 2021-2025
of channels with network expansion strategy focused corporate plan, the strategic steps that have been taken
on 4 (four) main initiatives, namely the regionalization in 2024 are as follows:
strategy, branch expansion, banking agent and digital 1. Branch Office Operational Model Refinement
channels. a. Transforming the sales-oriented branch office
1. Area Mapping Strategy operational model through centralization of
The area mapping strategy is a form of grouping transaction, credit and accounting operational
work areas not only based on location but also on functions. Centralization of operational activities
the density of existing branches to ensure better were carried out in several stages, namely:
alignment of strategies. The considerations used in - Implementation of Commercial Banking
the area mapping strategy are as follows: Center (CBC) and Regional Loan Processing
a. The development of overly dense areas will Center (RLPC).
ensure better control over Key Performance - Implementation of document record center.
Indicators (KPIs) and more comprehensive - Centralization of accounting, especially
strategy alignment. related to reporting functions.
b. Determining the operational zones of branches - Development of cash center and cash/
takes into account not only location but also the physical assets management for branches
branch office density ratio. outside Jabodetabek, Surabaya, and
2. Optimizing Branch Office Productivity Bandung.
In the short term, Company is not too expansive in b. Carrying out sales programs to increase branch
opening a branch office. This year, Company will office productivity through increasing employee
improve the oversight of the branch office to the outlet capabilities, monitoring performance in real
below and conduct an assessment or evaluation of time, and updating KPIs.
the unproductive outlets performance for closure. - Improving BTN Smart functions through BTN
This is conducted in order for office branches can Smart phase 3 development.
monitor better the subordinate performance which - Developing marketing communication
support corporate performance. programs through umbrella campaigns on
3. Banking Agent all BTN channels
Optimizing banking agents as aggregators with - Expanding EDC and LinkAja merchant
expanding strategic alliances, e.g. post office and acquisition.
mini-market as sales agent. - Relocation of outlets to 10 (ten) highest
4. Digital Channel growth cities that have micro markets with
The development of digital channel is intended customer-focused and digital services.
for remote access to target the emerging affluent - Revitalize e-BATARAPOS Savings by
segment, the younger generation, and increase the strengthening partnership with the
convenience of transactions for customers. Digital Indonesian Post Office, optimizing service
channel development is focused on: quality, and incentive schemes.
a. Attractive and clearly defined target segments
with a focus on segment selection age range
between 20 to 35 years.
238 PT Bank Tabungan Negara (Persero) Tbk
Page 241
Annual
Report 2024
2. Developing Partnership c. Funding cooperation for KPR distribution in the
a. Forming a venture capital company, as a millennial and urban segments.
special vehicle to develop asset management d. Funding cooperation for KPR distribution from
companies and investment in digital businesses, TAPERA, BPJS, or other Pension Fund Management
such as KPR fintech. Institutions.
b. Forming a life insurance subsidiary to optimize e. Developing potential sources of funding through
the captive business (KPR). support from the Government or other Banking
c. Establishment of an Investment Management Regulators.
company to manage TAPERA funds, develop 5. Developing a Housing Value Chain Based Business
Real Estate Investment Funds (DIRE)/Real Estate a. Developing and sell products along the value
Investment Trusts (REITS), and Infrastructure chain of commercial developer partners.
Investment Funds (DINFRA). b. Determining the sales process and coverage
d. Establishment of venture capital or multifinance model for commercial and MSME credit
companies to develop housing ecosystem- Relationship Managers (RM) to obtain business
based businesses. along the value chain of commercial developer
e. Developing a property buying and selling partners
platform that is integrated with BTN Properti. c. Developing partnerships across the real estate
3. Increasing Non-Subsidized KPR in the Emerging ecosystem to provide beyond-banking services
Affluent and Affluent Segments to developers.
a. Launching KPR bundling product with savings 6. Developing Services to Become a One Stop Solution
(BTN Solutions, KPR Savings) Banking Service
b. Digitalization of the KPR process, through the a. Developing BTN Solutions to increase customer
development of a tracking portal for customers product holding, targeting state-owned
and developers. corporations, government agencies, educational
c. Developing mortgage propositions for the institutions and large private companies.
millennial, mass and mass affluent segments. b. Developing premium banking services for the
d. Developing collaboration with top developers emerging affluent and affluent segments by
targeting housing projects in the emerging developing digital and mobile banking, utilizing
affluent and affluent segments data analytics, and improving IT capabilities that
e. Collaboration with 15 national property agents support transactions
and 6,000 individual property agents to increase c. Developing segmented customer service by
non-subsidized mortgages, especially second providing special attention and exclusive facilities
mortgages. with the best service to prime sharia customers.
f. Upsell non-subsidized products to subsidized d. Cross-sell to KPR customers through the use of
mortgage customers who have paid or will pay data analytics.
off. e. Becoming an operational bank for institutional
g. . Updating the BTN Properti channel by developing customers.
digital marketing capabilities (SEO and SEM), f. Increasing treasury transaction productivity and
web appearance (UI/UX), as well as increasing developing custodian banks.
the list of developers. g. Provide external MSME business support solutions
h. Creating a one-stop-shop customer housing through partnerships with technology providers.
ecosystem for products/services at all stages of h. Expand Sharia value proposition by developing
the customer lifecycle. innovative financing solutions for developers.
i. Develop consumer sales centers to increase i. Increase the realization portfolio of Non-
mortgages in the emerging affluent segment Subsidized Mortgage with Musyarakah
with ticket size above IDR750 million. Mutanaqisah (MMQ) contract.
4. Increasing Contributions to the Subsidized KPR and j. Establish cooperation with foreign financial
Wholesale Funding Programs institutions that have clients/companies
a. Developing home ownership cooperation operating in Indonesia.
through the TAPERA program.
b. Developing Transit Oriented Development (TOD)
housing development in collaboration with BUMN
Karya and other developers.
PT Bank Tabungan Negara (Persero) Tbk 239
Page 242
Management Discussion
and Analysis on Bank Performance
Marketing Aspect
Marketing Strategy
To help Company increase its competitive advantage, it requires a marketing strategy as a guideline in product marketing
and providing direction regarding the running of the business. The focus of the marketing strategy is outlined in the 2020-
2024 umbrella campaign with the tagline “Hidup Gak Cuma Tentang Hari Ini” (HGCTHI – Life is Not Just About Today)
Umbrella Campaign
HGCTHI 2020 HGCTHI 2021 HGCTHI 2022 HGCTHI 2023
HIDUP GAK CUMA SIASATIN HIDUP! SEKARANG WAKTUNYA
TENTANG HARI INI
Pandemic recovery period. BTN with its flagship product in
BTN Gives a new perspective BTN Steps with the young BTN provides real (actionable) 2023, supports and provides a
on the principle of You Only Live people to embrace optimism: solutions for progress way for customers to be braver
Once for the sake of a more Dare to face and get around in life in various aspects (owning in taking action, not to delay any
planned future. today’s challenges. a house, investing and preparing longer in terms of owning assets
pension funds) that are Because Life Is Not Just About
integrated digitally. Today,
HGCTHI 2024
HIDUP GAK CUMA TENTANG HARI INI
To realize a dream requires a process. Through various products and
services that are increasingly relevant to the development of the
times, BTN is ready to become the main financial tool for the younger
generation to help realize their every dream.
Promotional strategies and marketing activities implemented in 2024 were based on the 2024 Campaign Plan that has
been prepared and uses a 360 communication marketing activity strategy which includes Above The Line (ATL), Below
The Line (BTL) and Through The Line (TTL).
Campaign Plan 2024
Campaign Plan 2024 is BTN’s promotional planning strategy for 2024, by optimizing conventional media and digital
media, Out-of-Home (OOH), as well as various activation activities, which are divided into categories:
1. Primary (Hero Campaign) : Rebranding BTN (March to December)
Secondary : - BTN Mobile (January to May)
- Balé by BTN x BTN Mobile (January to December)
- BTN Prioritas - Plus (June)
- BTN Prospera and Spektadeal (Juli to October)
- BTN KPR (Housing Loan) (November to December)
2. Product of The Month (POM) : - BTN Mobile (January to May)
- Balé by BTN x BTN Mobile (June to December)
- BTN Prioritas - Plus (June)
- BTN Prospera and Spektadeal (Juli to October)
- BTN KPR (Housing Loan) (November to December)
3. Festive Campaign : - BTN 74th Anniversary Promo (February) = moment of truth for BTN’s
74th anniversary
- Ramadan and Eid al-Fitr Promo 1445 H (March - April) = moment of
truth Ramadan and Eid al-Fitr 1445 H.
- Promo for the 79th Independence of the Republic of Indonesia (August)
= moment of truth for the 79th Anniversary of the Republic of Indonesia
- BTN KPR (Housing Loan) 48th Anniversary Promo: moment of truth BTN
KPR (Housing Loan) 48th Anniversary
4. Always On : This is publication and marketing through digital media, both as a call to
action and to build awareness regarding the product.
240 PT Bank Tabungan Negara (Persero) Tbk
Page 243
Annual
Report 2024
Hero Campaign Plan 2024
Company’s hero campaign in 2024 was the rebranding of its new logo by optimizing conventional and digital media.
1. BTN New Logo Rebranding Teaser
PT Bank Tabungan Negara (Persero) Tbk 241
Page 244
Management Discussion
and Analysis on Bank Performance
2. The Launching of BTN’s New Logo
3. Announcement on Website, Social Media, Digital Media and Newspaper
242 PT Bank Tabungan Negara (Persero) Tbk
Page 245
Annual
Report 2024
4. Placement on Conventional and Digital Media
PT Bank Tabungan Negara (Persero) Tbk 243
Page 246
Management Discussion
and Analysis on Bank Performance
244 PT Bank Tabungan Negara (Persero) Tbk
Page 247
Annual
Report 2024
PT Bank Tabungan Negara (Persero) Tbk 245
Page 248
Management Discussion
and Analysis on Bank Performance
5. BTN 74th Anniversary and BTN RUN
6. BTN Jakarta International Marathon (BTN Jakim)
246 PT Bank Tabungan Negara (Persero) Tbk
Page 249
Annual
Report 2024
7. 48th Anniversary of BTN KPR (Housing Loan) Simultaneously in 8 (eight) Cities
• Sumatra Regional Office (Medan Fair Plaza)
• Jakarta 1 Regional Office (Tangerang City Mall)
PT Bank Tabungan Negara (Persero) Tbk 247
Page 250
Management Discussion
and Analysis on Bank Performance
• Jakarta 2 Regional Office (Mall Kota Kasablanka)
• West Java Regional Office (AEON Mall Deltamas Cikarang)
• West Java Regional Office (Trans Studio Mall Bandung)
248 PT Bank Tabungan Negara (Persero) Tbk
Page 251
Annual
Report 2024
• Central Java-DIY Regional Office (Mall Paragon Semarang)
• East Java-Bali-Nusa Tenggara Regional Office (BG Junction Surabaya)
• Sulawesi-Maluku-Papua Regional Office (Nipah Mall Makassar)
PT Bank Tabungan Negara (Persero) Tbk 249
Page 252
Management Discussion
and Analysis on Bank Performance
360° Communication
MARKETING ACTIVITY
Above The Line (ATL) Marketing Below The Line (BTL) Marketing
• Broad audience target • Limited audience target
• Explains more of a concept or idea. No direct • Media Or activities provide the audiences
interaction with the audience opportunity to interact and to purchase
Point of Sale Point of Sale Point of Sale Point of Sale Point of Sale Point of Sale Direct Marketing
Material (Mail /SMS/ wa
Material Material Material Material Material (Poster/Leaflet) Balst)
Through the Line (TTL) Marketing melibatkan penggunaan strategi pemasaran ATL & BTL Tren konsumen
baru-baru ini di pasar membutuhkan integrasi strategi ATL & BTL untuk hasil yang lebih baik. Periklanan
360º dimana kampanye dikembangkan dengan visi membangun merek serta konversi/akuntabel. Digital
Marketing termasuk dalam TTL Marketing, karena menggabungkan ATL & BTL Marketing
In addition to implementing the marketing strategies 4. Control Loan Quality
mentioned above, Company also implemented product After the end of the Covid-19 pandemic, there are
and service marketing strategies to encourage an still corporate segment debtors who have not fully
increase in the share of products and services. Company recovered, particularly state-owned enterprises
is also improving the effectiveness of cooperation in (SOEs) in the residential non-landed house sector.
marketing and developing new products. Therefore, continuous monitoring is still required to
maintain the quality of corporate segment credit
Corporate Loan Marketing Strategy exposure.
The description of the marketing strategy for Corporate Comercial Loan Marketing Strategy
Loan products throughout 2024 includes the following:
1. Grow Sustainable Portfolio BTN is implementing several marketing strategies for
a. Foster the distribution of credit that supports the commercial loan products during 2024, namely as
Environmental, Social, and Governance (ESG) follows:
framework, focusing on the development of 1. Quality credit distribution to achieve sustainable
sustainable credit products and enhancing the growth by focusing on priority economic sectors.
credit portfolio in the category of sustainable The six priority economic sectors for credit
business activities. distribution are: property-residential (construction
b. Expand financing in new sectors according to and contractor), retailers, education services,
selected industries in the portfolio guidelines. infrastructure and utilities, healthcare services, and
2. Explore and Elaborate Customer’s Needs financial institutions.
Explore and address customers’ banking needs, 2. Changes in the development pattern by encouraging
whether in lending, funding, trade finance, or debtors to place funds and make BTN a transactional
transactions, to increase sustainable fee-based bank by requiring debtors to use all BTN applications
income. and obligating them to deposit their funds in
3. Establish Sustainable Corporate Environment BTN (virtual account, cash management system,
Develop and create sustainable credit products in BTN Property for Developers, BTN Mobile, current
line with the ESG framework and the development of accounts, savings, deposits, and others).
IT to support corporate business.
250 PT Bank Tabungan Negara (Persero) Tbk
Page 253
Annual
Report 2024
3. Increasing fee-based service and transactional Subsidy Housing Loan Marketing Strategy
sources by improving the Number of Accounts (NoA)
for new credit and transactional bank accounts for The marketing strategy for subsidized housing loans is
debtors. as follows:
4. Continuing the credit quality improvement strategy, 1. Developing an equitable and affordable subsidy
such as (Mini Portfolio Quality Review/PQR, investor financing scheme by proposing a Subsidized
gathering, coaching CBC), and changing the terms Mortgage for the informal sector.
of commercial credit penalty fees. 2. Developing the housing financing ecosystem in
Indonesia by conducting Focus Group Discussions
Housing Loan Marketing Strategy (FGD) and discussions with housing stakeholders.
3. Strengthening marketing communication and brand
Initiatives to develop the loan business in the short and awareness on digital platforms.
medium term are: 4. Developing a module for the application of
1. Develop KPR Market Share in the Emerging Affluent Subsidized Mortgage policies.
and Affluent Segments 5. Digitalizing the monitoring of Subsidized Mortgage
a. Establishing a sales center that focuses on selling agreements to improve the governance of the
mortgages to the emerging affluent segment, policies provided.
where in 2024 sales centers were opened in 6. Developing an amortization system for annual
Bandung, Medan, Makassar, Cibubur, Pondok payment mechanism premiums.
Indah, and Pantai Indah Kapuk. 7. Creating an application system for monitoring and
b. Collaboration and marketing program with evaluating the occupancy of subsidized mortgage
national and local property agents, as a Direct to housing.
Customer (D2C) strategy.
c. Strengthening the BTN Properti application and Commercial Funding Marketing Strategy
portal by digitizing the KPR process end to end,
both for consumers and developers. The marketing strategy for commercial funding are
d. Building an instant purchase platform as part of carried out as follows:
BTN Properti. 1. Business Ecosystem
e. Developing the Rent to Own KPR scheme as an Acquiring institutional customer ecosystems, both
affordable and equitable KPR scheme, targeting those with existing cooperation agreements and new
the millennial generation. customers, to increase holding products, funding
2. Increase in High Yield Margin Credit volume, fee-based income, and lending. The holding
a. Increasing high yield credit (KRING, KAR) beyond products offered include Cash Management System
mortgage through up-selling and cross selling (CMS), virtual account debit, trade, payroll, loan, and
programs to captive customers, office, and others.
industrial areas. 2. Intensive and Aggressive Acquisition of Middle and
b. Upselling and cross selling programs for Large Institutions
nonsubsidized products to subsidized KPR Continuously intensive and aggressive in acquiring
customers who have or are almost paid off middle and large institutional customers through
through analytics capabilities and upselling association gatherings and canvassing.
programs. 3. Designing and Implementing Reward Programs
c. Pre approved loans or credit to existing debtors In order to appreciate the performance of the work
who meet the criteria through Telesales and BTN units (including Head Office, Regional Offices, Branch
Kita (digital-mobile app based). Offices) and increase the Number of Accounts (NOA)
d. Distribution of consumptive loans through and Volume of Accounts (VOA) for the commercial
channeling schemes with P2P Lending partners segment, special reward programs are provided,
based on partners‘ Digital-Applications. including the institution referral program, reduction
e. Lending through joint finance schemes that focus in cost of funds, star trek (funding volume growth),
on partnerships with Regional Banks (BPD) and primadana (priority customer referral program),
position BTN as a Business Partner of Regional midsize goes overseas (Asia and Europe), inter-
Banks (BPD). division collaboration, and reward programs for
customers of specific products such as transaction
fee waivers, checks/Bilyet Demand deposits (BG),
etc.
PT Bank Tabungan Negara (Persero) Tbk 251
Page 254
Management Discussion
and Analysis on Bank Performance
4. Diversification of Large and Middle Institution 5. Micro Business Savings
Customers Micro Business Savings is a banking product
Acquiring new customers in the large and middle specifically designed to meet the financial needs of
institution segment, focusing on all segments, Micro, Small, and Medium Enterprises (MSMEs) and
including BUMN Group, private corporations, merchants. This product offers various conveniences
education, and government across all regions. in business financial management, including
5. Extra Effort in Searching for Stable Institutional providing digital payment system facilities such as
Funding Potential Quick Response Code Indonesian Standard (QRIS)
Seeking potential institutional funding categorized and Electronic Data Capture (EDC).
as stable funds, such as Abandonment and Site
Restoration (ASR) funds and mining funds. SME Banking Marketing Strategy
6. Reacquisition of Institutional Customers
Reacquiring existing institutional customers with Marketing strategy for SME Banking products in 2024 is
large funding sources and potential to increase their outlined as follows:
positions at BTN 1. Increased Disbursement of High Yield Loan (Eagle
Project)
Retail Funding Marketing Strategy a. Formation of MSME Unit Partners at Sub-Branch
Offices (KCP) for distribution of People’s Business
Marketing Strategy for Third Party Fund (TPF/DPK) Retail Loan (KUR) and Micro SME Loan.
products in 2024 is outlined as follows: b. Increasing the realization of People’s Business
1. BTN Prospera Credit (KUR) through direct selling to KPR debtors
BTN Prospera is a service solution for customers and other consumer loans.
to meet various banking and lifestyle needs. c. Segmenting sales of People’s Business Loan (KUR)
BTN Prospera aims to be a banking partner that and KUMK Loan to ecosystems or communities
accompanies customers on their journey to success. according to regional potential through BPI SME.
This service focuses on customers with an Asset 2. Developing a Digital MSME System
Under Management (AUM) ranging from IDR100 a. Developing digitalization of the MSME loan
million to IDR500 million. distribution process using mobile apps and web
2. Dormant Activation apps (BTN LAKU Application).
A special program aimed at re-engaging customers 3. Improvement of Business Processes and HR Quality
with dormant accounts, encouraging them to a. Development of policies and procedures for
resume transactions and utilize BTN’s products and MSME credit products
services. b. SME education and Sales Loan Program using
3. Payroll Business Penetration for BTN Corporate inhouse training and e-learning methods.
Customers c. Increasing SME Loan performance through the
Increasing payroll business penetration by offering SME of the Year Program, SME Reward Program
special deals for BTN corporate customers, so that and SME Gathering.
both the corporate customers and their employees d. Effectiveness of strategies and work programs
can enjoy BTN’s products and services. through SME & Credit Program Unit (SCPU) Head,
4. Bale Poin SME and Credit Program Sales coaching
Bale Poin is a customer loyalty program that rewards e. Optimization of SME Expert Power (TAD) in Branch
customers with points for specific transactions or Office.
activities such as saving, investing, or using other
banking services. The accumulated points can BTN Prioritas Services Marketing Strategy
be exchanged for various rewards or benefits,
including discounts, goods, vouchers, or exclusive BTN Prioritas service is a special service specifically
services. This program aims to enhance customer intended for BTN Prioritas customers. Due to the specific
satisfaction, encourage more active use of the target market, most marketing activities are Bellow The
bank’s products and services, and strengthen long- Line (BTL), through direct communication to customers.
term relationships between the bank and customers. Starting from the first time a customer joins BTN
Prioritas, the customer will receive a welcome greeting.
Customers will also get updates about BTN Prioritas
promos and interesting ongoing programs via SMS
blasts sent tactically or regularly via the Priority Booklet.
252 PT Bank Tabungan Negara (Persero) Tbk
Page 255
Annual
Report 2024
Nevertheless, Above The Line (ATL) marketing strategies Digital Service Marketing Strategy
are still being implemented, since BTN Prioritas still
require exposure to become better known as a brand, In order to increasing digital services, BTN prepared
considering that Top of Mind BTN is still related to several marketing strategy steps as follows:
KPR. Activities carried out include advertisements on 1. Digital Service Development
Television Commercial (TVCs), advertisements in To increase customer satisfaction, the digital
cinemas, events in public places, and exhibitions in channel continued to develop product and digital
collaboration with partners. service features oriented to customer banking needs.
Company has developed various digital platforms
Apart from BTL and ATL marketing strategies, BTN ranging from Superapps Superapps Balé by BTN,
Prioritas marketing utilizes PLUS by BTN Prioritas as a balé bisnis, BTN Properti, BTN Smart Residence, EDC
marketing engine to increase BTN Prioritas customer Acquiring, QRIS, API Management, Branchless Banking
loyalty. Currently, PLUS Acquisition has been developed to services that support customer transaction
as a marketing tool as an alternative for the sales security such as SMS notifications, biometric logins,
team in offering programs with various benefits and/ OLOB eKYC and others. These various platforms were
or attractive prizes for BTN Prioritas customers, which designed in such manner for customers could carry
previously were offered directly by the BTN Prioritas out banking transactions anywhere and anytime
Relationship Manager. PLUS Acquisition in the marketing according to their needs, in order for customer’s
strategy is a pull factor that functions to create needs for sense of engagement with BTN got stronger and
BTN Prioritas customers. synergy.
2. Strengthening the Digital Mortgage Ecosystem
In 2024, BTN Prioritas also become the main sponsor Company as a bank that focuses on the housing
of Indonesian Fashion Week 2024 held in March 2024, sector had a central role in shaping the digital
in order for BTN Prioritas brand exposure increased mortgage ecosystem. On this basis. in every service
by collaborating with the event and its contributing development. the bank always prioritized strategic
designer. cooperation with partners who were members of the
housing ecosystem from upstream to downstream
Transaction Banking Product Marketing through various digital products and services such
Strategy as BTN Property, BTN Property for Developers, E-Mitra,
to the BTN Smart Residence application. Apart
Marketing strategy description for transaction banking from developing these applications, BTN routinely
product throughout 2024 include the following: organized BTN Property Expo both offline and online
1. Enhancing collaboration with the corporate and to accommodate the needs of the community in
commercial segments to increase transactions obtaining housing through KPR BTN.
through the acquisition of cash management 3. Increase in User Acquisition and Active Rate
services and increasing the activation of active cash Transactions through Direct Sales
management users, with the goal of improving the In order to acquire digital services and to increase
average balance of customers. the active transaction rate of digital services, several
2. Optimizing revenue growth for BTN by increasing strategies have been implemented in 2024 are as
the volume of trade finance transactions and bank follows:
guarantees, and improving the performance of a. Hero Campaign Balé
bank guarantees through the launch of the Bank • Balé Be Free
Guarantee issuance application (e-Guarantee). Free admin fee program for customers who
3. Deepening cooperation with anchor institutional make financial transactions for featured
clients by encouraging the use of transactional features such as BIFAST transfer, ewallet top
services such as BTN Primo Account, cash up, PLN token purchase, and telco provider
management, and e-Guarantee. payment.
4. Optimizing the role of transaction banking sales and • Balé Unlock Your World
wholesale implementors both at the Head Office and A program that provides cashback benefits
Regional Offices to execute banking services and for BTN customers who transact abroad
after-sales services effectively. and an opportunity for a free trip to Sydney,
Australia for top spender customers.
PT Bank Tabungan Negara (Persero) Tbk 253
Page 256
Management Discussion
and Analysis on Bank Performance
•Balé 3S (Dine, Relax, Healthy) • Agent Incentive for Balé by BTN Acquisition
15% discount with a maximum discount of An incentive given to agents who successfully
up to IDR30,000 for BTN customers for every invite at least 4 customers per month to
purchase at various anchor merchants and activate Balé by BTN. The incentive is IDR15,000
local champions who work with BTN. per customer who activates Balé by BTN, with
b. Acquisition and Transaction Programs of Balé a maximum reward of IDR2 million per agent
by BTN per month.
• Terbang Bersama Balé by BTN Program • Balé by BTN Acquisition Program for
(Internal Program) Universitas Terbuka
A reward program offering travel packages A reward of IDR35,000 for customers. To
and vouchers to branch offices that claim the reward, individuals must complete
successfully meet the Mobile Banking the activation proof via the link: bit.ly/
Acquisition target (Balé by BTN) of 100% and buktiaktivasiBTNMobileUT.
achieve a minimum connection rate of 90% • Regular Program to Increase Transactions
for Balé by BTN (both targets must be met). and Brand Awareness for Balé by BTN
• Online Savings Account Reward Program Features
Savings balance reward up to IDR 35 thousand • Offline Events
to customers who open online accounts, Offline events have been held in several
activate Bale by BTN, and register for SMS regions and nationally. For national events,
Notifications, and make recurring transactions they have been conducted in malls, food
on the Transaksi BulananKu menu Customers courts, and office areas in Jakarta. The
who open an account but do not make promotional programs are as follows:
financial transactions will receive a balance - Mall
of IDR15,000, while customers who register Booths set up in various malls in Jakarta
and make a minimum of 3 payments through and other regions.
the Monthly Transactions menu will receive a - Event
balance of IDR35,000. Cooperation with promoters or event
• New User Reward Program for Balé by BTN organizers to collaborate with Balé by BTN
Customers who open an account but do not via sponsorship methods, such as the BTN
make financial transactions will receive a Jakarta International Marathon (Jakim),
balance of IDR10,000, while customers who Suara Prambanan, and more.
register and make a minimum of 3 payments - Foodcourt
through the Monthly Transactions menu will Promotions include paying for lunch with
receive a balance of IDR25,000. Balé by BTN. Customers who register and
• Member Get Member Balé by BTN activate Balé by BTN at offline events will
Reward program in the form of Indomaret receive a lunch voucher.
iKupon which can be exchanged for Gulaku 1 • Branding of Balé by BTN in All BTN Branches
Kg / Bimoli 1 L / Luwak White Coffee products and Regional Offices
for customers who successfully invite friends For examples, branding BTN Mobile in office
to activate Bale by BTN and register SMS buildings, official vehicles, and public facilities
Notification. collaborating with managing agencies in
• Education Ecosystem Reward Program major cities.
A reward of IDR20,000 for customers from the • Activation Activities Through Social Media
education ecosystem who open an account. Campaigns involving hashtags, creating
• Balé by BTN Payroll Employee Acquisition challenges on social media (such as TikTok),
A reward of IDR20,000 for payroll employees and collaborations with influencers (micro,
who activate Balé by BTN. macro, and medium) to increase brand
• Institution Treasurer Incentive (Payroll) engagement.
An incentive given to an institution’s treasurer
based on the number of employees who
activate Balé by BTN in the current month.
The incentive is IDR15,000 per employee
who activates Balé by BTN, with a maximum
reward of IDR3 million per institution.
254 PT Bank Tabungan Negara (Persero) Tbk
Page 257
Annual
Report 2024
c. Merchant Acquisition and Transaction Programs acquire a minimum of 4 (four) agents until
(EDC and QRIS) the end of May 2024, valued at IDR100,000
• SEMARAC Program (Serbu Merchant with a minimum incentive of IDR400,000 and
Acquiring) (Internal Program) a maximum of IDR1 million.
Each outlet (KC/KCP) has a minimum • Merayu Program
acquisition target of 2 (two) merchants (EDC/ A bonus cashback reward of IDR50,000 per
QRIS) per week until December 31, 2024. Each month for every increase of IDR50 million in
outlet (KC/KCP) is required to maintain the funds, and it applies in multiples.
quality of merchants in categories A, B, and • Sakti Cashback Program
C at a minimum of 2 ongoing reports, so the A reward to agents with a VoA (Volume
target will increase based on the number of Activity) greater than IDR25 million
of ongoing reports. This program aims to and located in K1 or K2, who will receive
improve the quality of acquired merchants cashback for transaction fees on all types of
and the growth of the merchants’ account transactions.
balances. e. Digital Mortgage Ecosystem Program
• Cashier Incentives for EDC and QRIS BTN • New Member Smart Residence Program
Merchants A reward of up to IDR20,000 in GoPay balance
A loyalty program for merchant cashiers with for new users of the BTN Smart Residence
EDC or QRIS transactions that reach certain application.
sales volume and transaction thresholds. • Home Service BTN Discount Program
• EDC and QRIS BTN Merchant Rewards Rewards are given to users who make a
A loyalty program for merchants based booking on the home service (lifestyle)
on achieving certain sales volume and feature and professional services such as:
transaction thresholds with EDC or QRIS. - Balé by BTN (daily cleaning, AC service,
d. Agent Acquisition and Transaction Programs massage, and plumbing).
(Branchless Banking) - BTN Property (dust mite removal, sofa
• Kagetan! 1.0 Program cleaning, daily cleaning, massage, AC
A reward of IDR20,000 in savings for payroll service, washing machine service, and
employees who activate the Balé by BTN plumbing).
application. - BTN Smart Residence (dust mite removal,
• Inspira Program sofa cleaning, daily cleaning, massage,
Rewards for facilitators who manage agents. AC service, washing machine service, and
45% of the agents managed in K123 with a plumbing).
minimum of 25 agents managed. More than • Easy in Smart Residence Program (25%
50% of agent acquisition achievement from Cashback up to IDR25,000)
the total target for 2024. A 25% cashback reward, up to IDR25,000, for
• Sakti Ramadhan Program bill payments via the BTN Smart Residence
Rewards in the form of basic food packages application.
to agents (minimum 200 transactions) and • Easy in Smart Residence Program
customers (5 transactions) during March (Administrator Incentive)
2024. A reward for administrators registered in BTN
• Vaganza Rekening Program Smart Residence who complete at least 50
A reward of IDR5,000 to agents who transactions. The reward is a IDR500,000 giro
successfully refer at least 4 (four) accounts. balance since the administrator joined BTN
• Bersinar Program Smart Residence
Rewards in the form of vacation trips to • Oke Features, Many Rewards Program (BTN
the top 2 agents and FSUH/SBH per RO and Property for Developers)
incentives for the top 3rd, 4th, and 5th places A reward for developers’ admins who have
among agents with the highest transactions optimized features like booking fees, down
according to criteria. payments (DP), cash, and installments
• Vaganza Nasabah Program through BTN Property as per the set terms.
A racing VoA (Volume of Activity) for BTN • Apply for Online KPR Free 4D Tour Service
agents during the first semester period, with (BTN Property for Developers)
30 prizes totaling IDR30 million. A reward for developers who have optimized
• Kagetan! 2.0 Program online application features via BTN Property
A reward for the PIC (Person in Charge) of according to the specified terms:
agents/SBH and Facilitators who successfully
PT Bank Tabungan Negara (Persero) Tbk 255
Page 258
Management Discussion
and Analysis on Bank Performance
- A free 4D Tour Service is provided to • Reconnect with BTN Property Program
subsidized developers who apply for A reward for administrators from 20 selected
an online credit application through developers who have submitted applications
BTN Property with a minimum of via BTN Property as per the conditions.
100 applications per month and an • Debitur Akad Program
approval rate of at least 70% of the total A reward of IDR500,000 for BTN Property
applications. debtors who sign credit agreements during
- A free 4D Tour Service is provided to non- the program period, credited to their savings
subsidized developers who apply for an account.
online credit application through BTN • Property Rental Program
Property, with a minimum monthly credit A cashback reward via GoPay of 25%, up to
limit of IDR1 billion and an approval rate of a maximum of IDR500,000, for users who
at least 70%. apply for property rentals during the program
period.
Market Share
Information regarding BTN’s market share compared to the banking industry is presented as follows
Table of BTN Market Share Compared to the Indonesian Banking Industry (in IDR trillion)
November November
Description Information
2024 2023
Asset Banking Industry 12,334 11,428
BTN 449 423
BTN Market Share (%) 3.64% 3.71%
Third Party Fund Banking Industry 8,836 8,216
BTN 366 330
BTN Market Share (%) 4.14% 4.02%
Loans Banking Industry 7,717 6,966
BTN 355 328
BTN Market Share (%) 4.61% 4.71%
Source: Indonesian Banking Statistics Financial Services Authority (SPI OJK), Internal Data, processed.
The Company’s assets grew by 6.11% yoy, and the Housing Loan Market Share
total assets of the banking industry grew by 7.93%
yoy. Throughout 2024, the Company focused on As the largest mortgage provider in Indonesia, until
improving business quality and implementing December 2024, the Company has a market share of 38%
digital transformation, so that by November 2024, with a total outstanding mortgage of IDR288 trillion. The
the Company’s asset market share was 3.64%. The main competitor in the mortgage business in Indonesia
Company’s Third Party Funds (TPF) grew by 10.88% yoy, is Bank BCA with an outstanding of IDR135 trillion, followed
to IDR366 trillion by November 2024, higher than the by Mandiri with outstanding credit reaching IDR68
growth of the banking industry’s TPF which grew by 7.54% trillion. As a bank that focuses on mortgage financing,
yoy. This caused the Company’s TPF market share to both subsidized and non-subsidized mortgages, the
increase by 12 bps to 4.14% in November 2024 from 4.02% Company has a large market share in distributing
in November 2023. The Company’s credit and financing housing loans in Indonesia. Bank Perusahaan is a major
grew by 8.40% yoy, to IDR355 trillion by November 2024, contributor to the One Million Houses Program agenda
where banking credit growth reached 10.79% yoy, so that of the Indonesian Government through the Ministry of
by November 2024, the Company’s credit market share Public Works and Public Housing and BP Tapera in the
was 4.61%. Joko Widodo Presidential Administration, the Company
has distributed more than 2 (two) million houses since
2015-October 2024, and is believed to get the largest
256 PT Bank Tabungan Negara (Persero) Tbk
Page 259
Annual
Report 2024
portion in distributing subsidized mortgage financing. while the Company’s market share in overall mortgage
As of December 31, 2024, the Company’s market share in financing reached 38%.
the subsidized mortgage financing sector reached 82%
Housing Loan (KPR) Market Share December 2024
Description
Other Banks
BTN 18,00%
38,00%
62,00%
82,00%
Total Mortgage Total Subsidized Mortgage
Sourch: Corporate Presentations of Respective Banks, Indonesia’s Economic and Financial Statistics I.15 and BTN, December 2024
Customer Complaint Handling
Company has established a structured complaint- This unit’s primary responsibilities include resolving
handling mechanism for customers facing transaction customer complaints effectively to provide solutions,
issues, grievances, or other complaints. To provide monitoring incoming complaints to ensure proper
the best possible service and enhance customer resolution, and ensuring all customer complaints are
satisfaction, Company formed the Customer Protection handled according to the established Service Level
and Complaint Handling Management (CPCHM) unit. Agreement (SLA) and that each complaint receives
proper follow-up.
Customer Complaints Flow
Here is the flow for handling customer complaints at BTN
If the customer agrees with
Customers submit complaints BTN receives, records and
the settlement results, the
via this channel provided by provides complaint ticket
complaint is considered
BTN. numbers to customers.
resolved.
Customer Submits Customer Gets Complaint Complaint Process
Complaint Ticket Completed
1 3 5
2 4 6
Customer Data Follow-up Process by Customers are Dissatisfied
Verification Bank BTN and Continue LAPS SJK
BTN verifies customer data in BTN follows up and resolves Customers who do not agree
accordance with established customer complaints within with the settlement results can
procedures. the specified time. continue the LAPS SJK process.
PT Bank Tabungan Negara (Persero) Tbk 257
Page 260
Management Discussion
and Analysis on Bank Performance
Here is the customer complaint data for the period from January to December 2022-2024 as follows:
Table of Customer Complaint Details by Category
Years 2024
Conplaint Category Resolved In Proces Unresolved
Total Complaints
Total % Total % Total %
Fundraising 655 61.56% 409 38.44% - 0.00% 1,064
Fund Distribution 330 71.58% 131 28.42% - 0.00% 461
Partnership Products 12 100.00% 3 25.00% - 0.00% 12
Other Products 819 65.10% 439 34.90% - 0.00% 1,258
Payment System 89,965 99.74% 234 0.26% - 0.00% 90,199
Total 91,781 98.70% 1,216 1.31% - 0.00% 92,994
Years 2023
Conplaint Category Resolved In Proces Unresolved
Total Complaints
Total % Total % Total %
Fundraising 318 100.00% 0 0.00% - 0.00% 318
Fund Distribution 206 99.04% 2 0.96% - 0.00% 208
Partnership Products 8 100.00% 0 0.00% - 0.00% 8
Other Products 706 86.95% 106 13.05% - 0.00% 812
Payment System 61,261 100.00% 0 0.00% - 0.00% 61,261
Total 62,499 99.83% 108 0.17% - 0.00% 62,607
Years 2022
Conplaint Category Resolved In Proces Unresolved
Total Complaints
Total % Total % Total %
Fundraising 94 100.00% - 0.00% - 0.00% 94
Fund Distribution 184 100.00% - 0.00% - 0.00% 184
Partnership Products 5 100.00% - 0.00% - 0.00% 5
Other Products 444 100.00% - 0.00% - 0.00% 444
Payment System 51,804 100.00% - 0.00% - 0.00% 51,804
Total 52,531 100.00% - 0.00% - 0.00% 52,531
Table of Inbound Call Contact Center in 2024
Inbound 2024
Total
Channel January February March April May June July August September October November December
BTN Call 36,307 28,315 32,623 29,249 27,251 24,720 30,800 29,485 26,011 30,925 28,619 28,798 353,103
Email 18,656 15,465 19,216 26,544 21,078 17,959 22,940 22,831 23,509 23,786 23,384 29,045 264,413
Instagram 7,243 13,865 15,774 10,459 9,167 7,254 7,800 7,457 23,509 10,722 9,501 11,288 118,137
Whats App 4,846 5,221 6,740 6,930 5,709 4,516 5,476 5,507 5,000 5,818 5,914 6,549 68,226
Facebook 1,970 7,112 9,219 1,987 5,396 1,881 2,630 2,814 7,287 7,337 6,669 9,738 64,040
Twitter 3,642 3,475 4,038 4,632 5,244 3,410 2,837 4,015 2,693 3,944 2,893 3,692 44,515
Playstore 709 1,228 1,657 1,361 1,091 945 465 339 1,011 2,339 3,048 3,838 18,031
Live Chat 517 517 571 430 548 746 693 339 1,288 1,503 1,217 1,276 10,565
YouTube 69 81 229 121 70 31 66 34 34 59 36 56 886
App Store 88 45 37 53 15 33 32 - - - 126 8 437
lapor.go.id 13 2 3 2 2 4 2 2 5 9 2 - 46
Helpdesk IB 4 - 5 5 1 - - - - - - - 15
dan I-CASH
Total 74,064 75,326 90,112 81,773 75,572 61,499 73,741 73,743 74,445 86,442 81,409 94,288 942,414
258 PT Bank Tabungan Negara (Persero) Tbk
Page 261
Annual
Report 2024
The Company obtained the ISO 9001:2015 Certificate on of the ISO 9001:2015 Certificate on Customer Protection
Contact Center Service Quality Standards as a form of and Complaint Handling Management received by the
validation that the Company’s contact center services Company as a form of improving service quality to build
have been standardized and as one of the channels a structured and standardized business process.
for customer complaints. In addition, the acquisition
The following are the certifications and achievements that the Customer Experience Division has received during 2024
1. Awards From Regulators
Award from the Indonesian Ombudsman as the Most Cooperative and Responsive State Bank Association
(HIMBARA) in Encouraging the Completion of Debtors’ (Community) Mortgage Certificate Fulfillment.
Date Explanation Documentation
December 19, 2024 BTN received an award from the Indonesian Ombudsman
as the Most Cooperative & Responsive State Bank
Association (HIMBARA) in Encouraging the Settlement of
Debtors' (Community) Mortgage Certificate Fulfillment.
The award was given directly by the Head/Member of
the Indonesian Ombudsman, Mr. Yeka Hendra Fatika
and received by the Director of Operations & Customer
Experience, Mr. Hakim Putratama.
2. ISO 9001 : 2015 Certification
Date Explanation Documentation
December 19, 2024 PT Bank Tabungan Negara (Persero) Tbk through
the Customer Experience Division (Contact Center
Department) has successfully obtained and received
the ISO 9001:2015 Certificate regarding Contact Center
Service Quality Standards. The certification is a form of
validation that BTN’s Contact Center services have been
standardized. With the certification, it can be a trigger
for improving the quality of services provided to BTN
customers
December 27, 2024 BTN received the ISO 9001:2015 Certificate regarding
Customer Protection and Complaint Handling
Management received by PT Bank Tabungan Negara
(Persero) Tbk. The ISO is a form of improving service
quality to build a structured and standardized business
process.
3. Achievements in the 2024 Best Contact Center Indonesia Competition
Date Explanation Documentation
September 11, 2024 BTN Call received an award at the Best Contact Center
Indonesia 2024 (TBCCI 2024) event held by the Indonesia
Contact Center Association (ICCA) for the period May –
September 2024 with the following achievements:
• The Best Employee Engagement (Gold Medalist)
• The Best Business Contribution (Gold Medalist)
• The Best Technology Innovation (Gold Medalist)
• The Best Quality Assurance (Gold Medalist)
• The Best Manager (Silver Medalist)
• The Best Trainer Medium (Bronze Medalist)
PT Bank Tabungan Negara (Persero) Tbk 259
Page 262
Management Discussion
and Analysis on Bank Performance
Operation Overview Per Business Segment
Company’s business segment by type of business revenue. On the other hand, the Sharia Segment which
covered 2 (two) main segments, namely the was developed by the Sharia Business Unit (UUS) is
Conventional segment and the Sharia segment. The growing annually along with Bank Company’s various
Conventional segment as the main business segment efforts and initiatives.
of Company made a major contribution to Company’s
Conventional Segment
Explanation and Productivity of Conventional Segments
CONVENTIONAL SEGMENT
CONSUMER PRODUCTS COMMERCIAL PRODUCTS
CONSUMER SAVINGS CONSUMER CREDIT COMMERCIAL SAVINGS COMMERCIAL CREDIT
PRODUCTS PRODUCTS PRODUCTS PRODUCTS
PERSONAL COMMERCIAL
CONSUMER BTN RETAIL HOUSING NON-HOUSING INSTITUTIONAL HOUSING NON-HOUSING
CURRENT CURRENT
SAVINGS TIME DEPOSIT LOANS LOANS TIME DEPOSIT LOANS LOANS
ACCOUNT ACCOUNT
An overview of the performance of the Conventional Segment can be seen in the following table.
Graph of Conventional Segment Performance (in IDR trillion)
TOTAL VALUE OF CONVENTIONAL
CONSUMER PRODUCT COMMERCIAL PRODUCT
SEGMENT PRODUCT
303.07
80.00 300.00 300.00
264.79 286.66
70.00
63.77 67.43 250.00 243.69 250.00
60.00
200.00 200.00
50.00
42.45
40.21
40.00 150.00 150.00
106.22 107.64
30.00
100.00 100.00
20.00
50.00 42.96 50.00
10.00 38.28
0.00 0.00 0.00
Total Value Total Value of
Consumer Consumer Consumer Consumer
of Consumer Commercial
Loan Savings Loan Savings
Product Product
2023 2024
260 PT Bank Tabungan Negara (Persero) Tbk
Page 263
Annual
Report 2024
Consumer Product
The distribution of BTN products to Consumer Products is divided into 2 (two), namely Consumer Loan Products and
Consumer Savings Products. Total Consumer Product in 2024 was IDR108.09 trillion, a 1.76% increase from IDR106.90
trillion in 2023. This growth was driven by an increase in consumer savings deposits and term deposits.
Table of Consumer Product Value (in IDR million)
Increase/Decrease
Consumer Product 2024 2023
Nominal %
Consumer Loan Product 40,660,578 42,450,499 1,789,923 (4.22%)
Consumer Savings Product 67,432,408 63,770,218 3,662,190 5.74%
Total Consumer Product Value 108,092,986 106,220,717 1,872,269 1.76%
Consumer Credit Products saw a total of 179,539 units in 2024, reflecting a 9.97% decline from 198,986 units in 2023.
This decrease was primarily due to a drop in subsidized mortgage disbursements. Consumer Savings Products also
experienced a drop to 6,232,485 accounts in 2024, a decrease of 13.35% from 7,192,402 accounts in 2023. This was
mainly due to a 13.53% reduction in the number of consumer savings accounts.
Table of Consumer Product Volume
Increase/Decrease
Consumer Product 2024 2023
Nominal Percentage
Consumer Loan Product (unit) 179,539 198,986 (19,447) (9.77%)
Consumer Savings Product (account) 6,232,485 7,192,402 (959,917) (13.35%)
CONSUMER LOAN PRODUCT
Company provides Consumer Loan Products consisting of Housing Loans and Non-Housing Loans. Housing Loan
products were classified into Subsidized Mortgages, Non-Subsidized Mortgages And Other Housing Loans. All individual
consumer credit products were distributed in Rupiah (IDR).
Table of Consumer Loan Product Distribution Value (in IDR million)
Increase/Decrease
Consumer Loan 2024 2023
Nominal Percentage
Housing Loan 37,629,430 38,674,541 1,045,111 (2.70%)
Subsidized Housing Loan 19,451,494 20,114,296 662,802 (3.30%)
Non Subsidized Housing Loan 15,790,588 16,191,348 400,760 (2.48%)
Other Housing Loan 2,387,348 2,374,553 12,795 0.54%
Non Housing Loan 3,031,148 3,775,958 744,811 (19.73%)
Total Consumer Loan Product Distribution Value 40,660,578 42,450,499 1,789,923 (4.22%)
PT Bank Tabungan Negara (Persero) Tbk 261
Page 264
Management Discussion
and Analysis on Bank Performance
The value of Consumer Credit disbursement in 2024 stood at IDR40.66 trillion, down 4.22% from IDR42.45 trillion in 2023,
primarily due to the maximum quota for subsidized mortgage disbursements being reached.
Table of Consumer Loan Product Distribution Volume (in unit)
Increase/Decrease
Consumer Loan 2024 2023
Nominal Percentage
Housing Loan 160,540 176,174 (15,643) (8.87%)
Subsidized Housing Loan 118,665 130,787 (12,122) (9.27%)
Non Subsidized Housing Loan 30,960 36,260 (5,300) (14.62%
Other Housing Loan 10,915 9,127 1,788 19.59
Non Housing Loan 18,999 22,812 (3,813) (16.71%)
Total Consumer Loan Distribution Volume 179,539 198,986 (19,447) (9.77%)
Consumer Loan Distribution Volume in 2024 was 179,539 Financing Subsidies and Regulation of BP Tapera No.
units, down 9.77% compared to 2023 which was 198,986 6 of 2021 on House Financing for Community Housing
units. The decrease was due to a decrease in Distribution Savings Participants.
Volume Subsidized Housing Loan.
The Subsidized Housing Loans are distributed by
Housing Loan-Subsidized Housing Company under the House Financing Liquidity Facility
Since 1976 until today, albeit with continuously changing (FLPP), Savings-Based Housing Financing Assistance
scheme. the Subsidized Housing Loans have been steadily (BP2BT) and Community Housing Savings (Tapera)
distributed. Subsidized Housing Loans are Government- schemes. Low-Income Community (MBR) comprises
initiated house ownership program run by the Ministry first-time buyers who meet certain requirements
of Public Works and Housing, provided to low income to obtain Subsidized Housing Loans with affordable
communities. That are distributed by conventional installments. Under the currently applicable government
and sharia implementing banks. In Subsidized Housing regulation, KPR Sejahtera FLPP and KPR BP2BT facilities
Loan program. the Government provides assistance given to customers who do not have a house yet with
through long-term low-cost funding as well as down the household income of IDR8 million/ month (for Java,
payment subsidies, resulting in affordable installment Sumatra, Kalimantan and Sulawesi) and IDR10 million/
for prosperity landed house or flat purchase. month (for Papua). On the other hand, KPR Tapera
facility is provided to customers registered as BP-Tapera
Company strives to provide convenience and low-cost participants with the household income of IDR8 million/
facilities for the people aiming to purchase house under month (for Java, Sumatra, Kalimantan and Sulawesi)
the Subsidized Housing Loan program. Company was and IDR10 million/month (for Papua). The prices for
mandated with the task to provide Subsidized Housing houses purchased through these facilities are limited to
Loans for the first time by the Letter of the Minister of a certain amount.
Finance No. B-49/MK/IV/I/1974 dated January 29, 1974.
in which the first housing loan was distributed on The provisions for the distribution of KPR FLPP for landed
December 10, 1976. In distributing Subsidized Housing house and flat purchase are as follows:
Loans. Company collaborates with the Ministry of Public 1. The maximum value of housing loans is the selling
Works and Public Housing. The currently applicable price of the landed estates or flats minus the down
provisions on Subsidized Housing Loan distribution payment prepared by MBR. Through this program,
are contained in the Regulation of the Minister of MBR also deserves Subsidized Down Payment
Public Works and housing No. 35/PRT/M/2021 on House Assistance (SBUM) of IDR4 million (for Java, Sumatra,
Ownership Convenience and Subsidies for Low-Income Kalimantan and Sulawesi) and IDR8 million (for
Community. Regulation of the Minister of Public Work Papua) from the Government.
and Housing No. 32 of 2021, on Savings-Based House
262 PT Bank Tabungan Negara (Persero) Tbk
Page 265
Annual
Report 2024
2. The Housing Loan interest rate to be paid by the debtors 4. The funding source for the BP2BT program comes
is 5% p.a., inclusive of life insurance. fire insurance. entirely from the implementing bank.
and credit insurance premiums. The interest rate as 5. The mortgage term is agreed upon by BTN and the
referred to in item (1) is fixed throughout the tenure of MBR, adjusted to the borrower’s repayment capacity,
the loan, calculated on an annuity. with a maximum term of 20 years.
3. The sources of the FLPP program funding are 75% from
the Government and 25% from the Company. BTN has The provisions for the distribution of KPR Tapera is as
entered into an agreement with PT Sarana Multigriya follows:
Finansial for the provision of funding for FLPP program. 1. KPR Tapera shall be provided for Tapera participants
4. The tenure for the Housing Loan is agreed upon BTN who have met certain requirements and participant
and the Low-Income Community (MBR) which also priority order from BP Tapera.
takes into account the potential debtor’s capability 2. The down payment for KPR Tapera shall be at
to pay the installments within a period of maximum minimum 0%. according to BTN assessment of the
20 years. low-income customer (MBR).
3. The Housing Loan interest rate to be paid by the
The provisions for providing KPR BP2BT for the purchase debtors is 5% p.a., inclusive of life insurance. fire
of landed houses/flats and the construction of self-help insurance. and credit insurance premiums. The
houses are as follows: For the BP2BT (Housing Financing interest rate as referred to in item (2) is fixed
Assistance for Low-Income Communities) program, the throughout the tenure of the loan. calculated on an
following terms apply to landed houses, apartments, annuity.
and self-built homes: 4. The tenure for the Housing Loan is agreed upon by
1. Eligible Low-Income Community (MBR) receive a BTN and the Low-Income Customer (MBR), which
maximum down payment subsidy of IDR40 million also takes into account the potential debtor’s
from the government. capability to pay the installments within a period of
2. The mortgage value equals the house price or the maximum 30 years.
cost estimation (RAB) of the self-built house minus 5. The Company shall issue the Asset- Backed Security
the BP2BT subsidy and the down payment provided (EBA) according to the amount of loan realized, in
by the MBR. collaboration with a Custodian Bank appointed by
3. The mortgage interest rate is 10% fixed for 10 years BP-Tapera.
or 9.5% fixed for 5 years, using a gradual payment
mortgage method.
Table of Subsidized Housing Loan Product Distribution Value (in IDR million)
Increase/Decrease
Subsidized Housing Loan 2024 2023
Nominal Percentage
KPR BTN Sejahtera Tapak 18,812,157 19,411,272 (599,114) (3.09%)
KPR BP2BT - - - -
KPR BTN Tapera 636,008 703,024 (67,016) (9.53%)
Total Subsidized Housing Loan Distribution
19,451,493 20,114,296 (662,802) (3.30%)
Value
Notes: *) BP2BT funds are no longer distribute since 2023
The value of Subsidized Mortgage disbursement in 2024 with agencies and stakeholders in the housing sector,
reached IDR19.45 trillion, a 3.30% decline from IDR20.11 both financing support (BP TAPERA, SMF and the Ministry
trillion in 2023, mainly due to a decrease in KPR BTN of PUPR), as well as from the supply and demand side,
Sejahtera Tapak by IDR599.11 billion in 2024. in collaboration with various agencies/associations
(developer associations, associations market traders,
Company developing equitable and inclusive financing technology companies such as Gojek, Grab and others)
schemes through the development of subsidized KPR development and improvement of business process,
products such as: new KPR FLPP, KPR Tapera, Rent to Own use of the latest technology and expanding the business
KPR scheme. BTN also continues to increase the share of ecosystem also have a positive impact on the growth of
the BTN Subsidized KPR through deepening cooperation the BTN subsidized KPR distribution.
PT Bank Tabungan Negara (Persero) Tbk 263
Page 266
Management Discussion
and Analysis on Bank Performance
Table of Subsidized Housing Loan (KPR) Distribution Value (in unit)
Increase/Decrease
KPR Subsidi 2024 2023
Nominal Percentage
KPR BTN Sejahtera Tapak 114,835 126,312 (11,477) (9.09%)
KPR BP2BT - - - -
KPR BTN Tapera 3812 4,514 (702) (15.55%)
Total Subsidized Housing Loan Distribution
118,665 130,830 (12,165) (9.30%)
Volume
Notes: *) BP2BT funds are no longer distribute since 2023
In line with this decline, the volume of subsidized for Apartment Ownership Credit (KPA) and Shophouse
mortgage disbursements also decreased by 9.09%, or Loan. BTN Non-Subsidized KPR provides services for
11,477 units, compared to 130,830 units in 2023. This was purchasing houses from developers or non-developers,
mainly due to the reduced volume of KPR BTN Sejahtera both for purchasing new or second-hand houses,
Tapak in 2024. purchasing ready to-live-in (ready stock) or unfinished
(indent) houses, as well as taking over credit from
Housing Loan-Non Subsidized Housing Loan other banks. Minimum down payment requirement of
Apart from Subsidized Housing, the Company also has 15% or in accordance with Bank Indonesia Regulations
various Non-Subsidized KPR services targeting middle regarding Loan to Value (LTV) Ratio. BTN distributes Non-
to upper income customers with floating interest rates. Subsidized KPR credit through several products, namely
The maximum term offered is 25 (twenty five) years for KPR BTN Platinum, KPA BTN and Kredit Ruko BTN.
Non-Subsidized KPR and a maximum of 15 (fifteen) years
Table of Non Subsidized Housing Loan Product Distribution Value (in IDR million)
Increase/Decrease
Non Subsidized Housing Loan 2024 2023
Nominal Percentage
KPR BTN Platinum 15,388,946 15,934,162 (545,215) (3.42%)
KPA BTN 288,523 136,875 151,648 110.79%
Kredit Ruko BTN 113,117 120,311 (7,193) (5.98%)
Total Non Subsidized Housing Loan Distribution
15,790,587 16,191,348 (400,760) (2.48%)
Value
The value of Non-Subsidized Mortgage disbursement in 2024 amounted to IDR15.79 trillion, a 2.48% decrease from
IDR16.19 trillion in 2023. This decline was primarily driven by a reduction in KPR BTN Platinum by IDR545.22 billion.
Table of Non Subsidized Housing Loan Distribution Volume (in unit)
Increase/Decrease
Non Subsidized Housing Loan 2024 2023
Nominal Percentage
KPR BTN Platinum 30,462 35,906 (5,444) (15.16%)
KPA BTN 354 217 137 63.13%
Kredit Ruko BTN 144 137 7 5.11%
Total Non Subsidized Housing Loan Distribution
30,960 36,260 (5,300) (14.62%)
Volume
264 PT Bank Tabungan Negara (Persero) Tbk
Page 267
Annual
Report 2024
The volume of non-subsidized mortgage disbursements in developing business as well as in helping the
in 2024 was 30,960 units, down 14.62% from 36,260 units customers with residence ownership with high profit
in 2023, mainly due to a 15.16% decrease in KPR BTN and convenience. Company’s other Housing Loans
Platinum disbursements. are distributed under the following products, namely,
Kredit Agunan Rumah (Home Collateral), Kredit Bangun
Housing Loan - Other Housing Loan Rumah (Home Building), Bank Cooperation Housing
Company also offers other types of housing loans and Renovation Loan (Bank Cooperation Home Renovation
other Consumer Loans according to the customers’ Loan/PRR-KB) BPJS Ketenagakerjaan.
needs. Other Housing Loans are Company’s endeavor
Table of Other Housing Loan Distribution Value (in IDR million)
Increase/Decrease
Other Housing Loan 2024 2023
Nominal Percentage
Kredit Agunan Rumah (Home Collateral) 2,348,766 2,347,810 39,538 0.04%
Kredit Bangun Rumah (Home Building) 6310 3,150 3160 100.32%
PRR-KB BPJS Ketenagakerjaan 28,502 23,593 4,910 20.81%
Total Other Housing Loan Distribution Value 2,387,348 2,374,553 12,795 0.54%
The disbursement value of Other Housing Loans in 2024 reached IDR2.38 trillion, an increase of 0.54% compared to
IDR2.37 trillion in 2023. This growth was mainly driven by a 0.04% increase in Home Equity Loans and a significant
100.32% rise in Home Construction Loans.
Table of Other Housing Loan Distribution Volume (in unit)
Increase/Decrease
Other Housing Loan 2024 2023
Nominal Percentage
Kredit Agunan Rumah (Home Collateral) 10,682 8,944 1,738 19.43%
Kredit Bangun Rumah (Home Building) 12 11 1 9.09%
PRR-KB BPJS Ketenagakerjaan 191 160 31 19.37%
Total Other Housing Loan Distribution Volume 10,885 9,115 1,770 19.42%
The volume of Other Housing Loans disbursed in 2024 Non Housing Loan
amounted to 10,885 units, a 19.42% increase compared Company provides other Consumer Loans apart from
to 9,115 units in 2023. This growth was primarily due to a the Housing Loans for various needs of the lending
19.43% rise in Home Equity Loans and a 19.37% increase customers. Company Non Housing Loans are distributed
in PRR-KB BPJS Ketenagakerjaan, aligned with BTN’s under the following products, which are Kring BTN, Kring
strategy to expand its high-margin loan business in BTN Pensiunan (Pension Loans), Kredit Swadana BTN,
2024. and Kredit Pegawai (Employee Loans).
Table of Non Housing Loan Distribution Value (in IDR million)
Increase/Decrease
Non Housing Loan 2024 2023
Nominal Percentage
Kring BTN 1,957,877 2,161,227 203,350 (9.41%)
Kring BTN Pensiunan (Pension Loans) 126,208 169,238 43,030 (25.43%)
PT Bank Tabungan Negara (Persero) Tbk 265
Page 268
Management Discussion
and Analysis on Bank Performance
Increase/Decrease
Non Housing Loan 2024 2023
Nominal Percentage
Kredit Swadana BTN 812,276 1,264,244 451,968 (35.75%)
Kredit Pegawai (Employee Loans) 134,787 181,249 46,462 (25.63%)
Total Non Housing Loan Distribution Value 3,031,148 3,775,958 744,810 (19.73%)
The disbursement value of Non-Housing Loans in 2024 stood at IDR3.03 trillion, a decline of 19.73% from IDR3.77 trillion in
2023. This decrease was mainly due to a drop in BTN Swadana Loans and BTN Kring Loans.
Table of Non Housing Loan Distribution Volume (in unit)
Increase/Decrease
Non Housing Loan 2024 2023
Nominal Percentage
Kring BTN 15,330 19,133 3,803 (19.88%)
Kring BTN Pensiunan (Pension Loans) 1,103 1,651 548 (33.19%)
Kredit Swadana BTN 773 1,613 840 (52.08%)
Kredit Pegawai (Employee Loans) 256 415 159 (38.31%)
Total Non Housing Loan Distribution Value 17,462 22,812 5,350 (23.45)
The volume of Non-Housing Loans disbursed in 2024 CONSUMER SAVINGS PRODUCT
was 17,462 units, decreasing by 23.45% from 22,812 units Company provides various deposit products to answer
in 2023. The decline was primarily driven by a 3,803-unit customer’s savings need. which are classified into two
reduction in BTN Kring Loans. (2), i.e. Savings and Time Deposits. Through the provision
of these products, Company seeks to maintain sound
liquidity level, low-cost funds that are in line with BTN
strategies to maintain competitive and affordable
financial composition.
Table of Total Consumer Savings Product (in IDR million)
Increase/Decrease
Consumer Savings 2024 2023
Nominal Percentage
Consumer Savings 37,699,994 37,720,836 (20,842) (0.06%)
Time Deposit 29,732,484 26,724,483 3,008,001 11.26%
Total Consumer Savings Product 67,432,478 64,445,319 2,987,159 4.64%
The total value of Consumer Savings in 2024 amounted to IDR67.43 trillion, an increase of 4.64% compared to IDR64.45
trillion in 2023. This growth was primarily driven by an 11.26% increase in Time Deposits.
266 PT Bank Tabungan Negara (Persero) Tbk
Page 269
Annual
Report 2024
Table of Total Consumer Savings Accounts (in account)
Increase/Decrease
Consumer Savings 2024 2023
Nominal Percentage
Consumer Savings 6,139,468 7,099,737 (960,269) (13.53%)
Time Deposit 93,017 92,665 352 0.38%
Total Consumer Savings Accounts 6,232,485 7,192,402 (959,917) (13.35%)
The number of Consumer Savings accounts in 2024 was 4. Tabungan eBatara Pos
6,232,485, decreasing by 13.35% compared to 7,192,402 5. Other Saving Accounts, consisting of some products
accounts in 2023. This decline was mainly due to a as follows:
13.53% reduction in Consumer Savings accounts. a. Tabungan Junior
b. Tabungan Juara
Consumer Savings c. Tabungan Simpel
The Consumer Savings owned by BTN provides d. TabunganKu
transactional savings solution with convenient purchase e. Tabungan BTN Perumahan
and payment transactions through BTN channels f. Tabungan Cermat
to support the consumers’ financial activities. BTN g. Tabungan BTN Haji
consumer savings are developed through the following h. Tabungan Siap!
products: i. Tabungan SiMuda RumahKu
1. Tabungan Batara j. Tabungan BTN Felas
2. Tabungan Bisnis
3. Tabungan Investa
Tabel Jumlah Tabungan Konsumer (in IDR million)
Increase/Decrease
Consumer Savings 2024 2023
Nominal Percentage
Tabungan Batara 17,250,326 17,539,793 (289,467) (1.65%)
Tabungan Bisnis 3,603,417 3,107,305 496,382 15.98%
Tabungan Investa 12,052,267 12,451,489 (399,222) (3.21%)
Tabungan eBatara Pos 1,944,082 1,949,007 (4,926) (0.25%)
Tabungan Lainnya 2,849,902 2,673,513 176,389 6.60%
Tabungan Junior 311,772 518,793 (207,021) (39.90%)
Tabungan Juara 864,736 732,105 132,631 18.12%
Tabungan Simpel 242,574 161,457 81,117 50.24%
TabunganKu 1,000,413 951,332 49,081 5.16%
Tabungan BTN Perumahan 18,635 22,503 (3,868) (17.19%)
Tabungan Cermat 21,175 20,967 209 0.99%
Tabungan BTN Haji 0,1 0 0 -
Tabungan Siap! 100,215 73,517 26,698 36.32%
Tabungan SiMuda RumahKu 0 31 (31) (100.00%)
Tabungan BTN Felas 290,382 192,807 97,575 50.61%
Total Consumer Savings Funds 37,699,994 37,720,836 (20,842) (0.06%)
PT Bank Tabungan Negara (Persero) Tbk 267
Page 270
Management Discussion
and Analysis on Bank Performance
The total value of Consumer Savings accounts in 2024 was IDR37.69 trillion, a slight decrease of 0.06% compared to
IDR37.72 trillion in 2023. This decline was primarily caused by a reduction in Investa Savings funds by IDR399 billion.
Table of Total Consumer Savings Account (in account)
Increase/Decrease
Consumer Savings 2024 2023
Nominal Percentage
Tabungan Batara 2,588,725 3,376,346 (787,621) (23.33%)
Tabungan Bisnis 61,138 35,251 25,887 73.44%
Tabungan Investa 8,080 7,535 545 7.23%
Tabungan eBatara Pos 602,956 588,242 14,714 2.50%
Tabungan Lainnya 2,878,569 3,092,363 (213,794) (6.91%)
Tabungan Junior 95,234 111,110 (15,876) (14.29%)
Tabungan Juara 614,216 556,006 58,210 10.47%
Tabungan Simpel 824,069 795,592 28,477 3.58%
TabunganKu 1,148,480 1,448,630 (300,150) (20.72%)
Tabungan BTN Perumahan 2,457 2,617 (160) (6.11%)
Tabungan Cermat 123,203 123,211 (8) (0.01%)
Tabungan BTN Haji 262 261 1 -
Tabungan Siap! 68,671 53,936 14,735 27.32%
Tabungan SiMuda RumahKu - 2 (2) (100.00%)
Tabungan BTN Felas 1,977 998 979 98.10%
Number of Consumer Savings Accounts 6,139,468 7,099,737 (960,269) (13.53%)
The number of Consumer Savings accounts in 2024 BTN Ritel Time Deposit
was 6.13 million, decreasing by 13.53% compared to 7.09 BTN Ritel Time Deposit includes On Bilyet Deposit and
million accounts in 2023. The decline was mainly due e-Depo.
to a reduction in Batara Savings accounts by 787,621
accounts.
Table of Total Time Deposit (in IDR million)
Increase/Decrease
Time Deposit 2024 2023
Nominal Percentage
DEPOSITO ON BILYET
1 month 8,276,804 8,293,915 (17,111) (0.21%)
2 months 1,885,215 447,053 1,438,162 321.70%
3 months 11,159,587 11,878,796 (719,208) (6.05%)
4 Months 444,730 768,713 (323,983) (42.15%)
6 months 2,200,387 2,016,777 183,610 9.10%
> 12 months 278,385 327,305 (48,920) (14.95%)
268 PT Bank Tabungan Negara (Persero) Tbk
Page 271
Annual
Report 2024
Increase/Decrease
Time Deposit 2024 2023
Nominal Percentage
E-DEPO
1 month 2,044,796 1,001,338 1,043,458 104.21%
2 Months 246,524 223,584 22,940 10.26%
3 Months 1,352,132 597,071 755,061 126.46
4 Months 67,863 17,026 50,836 298.57%
6 Months 132,663 210,461 (77,798) (36.97%)
12 Months 35 - 35 -
Deposito On Call 29,732,484 26,724,483 3,008,001 11.26%
DHE 35 - 35 -
Total Time Deposit Funds 29,732,484 26,724,483 3,008,001 11.26%
The total value of Time Deposits in 2024 was IDR29.73 trillion, increasing by 11.26% compared to IDR26.72 trillion in 2023.
This increase was mainly driven by a growth in On-Bilyet Time Deposits for a two-month period, amounting to IDR1.43
trillion.
Table of Total Time Deposit Accounts (in account)
Increase/Decrease
Time Deposit 2024 2023
Nominal Percentage
DEPOSITO ON BILYET
1 month 35,642 43,687 (8,045) (18.42%)
2 months 1,607 1,273 334 26.24%
3 months 19,641 22,970 (3,329) (14.49%)
4 Months 193 203 (10) (4.93%)
6 months 7,396 8,634 (1,238) (14.34%)
> 12 months 2,556 2,839 (283) (9.97%)
E-DEPO
1 month 9,208 5,599 3,609 64.46%
2 Months 888 479 409 85.39%
3 Months 9,522 4,340 5,182 119.40%
4 Months 889 559 330 59.03%
6 Months 4,531 1,772 2,759 -
12 Months 917 296 621 209.80%
Deposito On Call 26 14 12 85.71%
DHE 1 - 1 -
Number of Time Deposit Account 93,017 92,665 352 0.38%
PT Bank Tabungan Negara (Persero) Tbk 269
Page 272
Management Discussion
and Analysis on Bank Performance
The number of Time Deposit accounts in 2024 was Commercial Product
93,017, a slight increase of 0.38% compared to 92,665
accounts in 2023. This growth was primarily due to a BTN product portfolio in Commercial Products was
5,182-account rise in 3-month e-Deposits. divided into 2 (two), namely Commercial Loan Products
and Commercial Savings Products.
Table of Commercial Product Value (in IDR million)
Increase/Decrease
Commercial Product 2024 2023
Nominal Percentage
Commercial Loan Products 38,278,495 42,963,396 (4,684,901) (10.90%)
Commercial Savings Products 264,793,641 243,694,432 21,109,903 8.66%
Total Commercial Product Value 303,072,136 286,657,828 16,425,002 5.73%
The total value of Commercial Products in 2024 reached IDR303.07 trillion, a 5.73% increase compared to IDR286.65
trillion in 2023. This growth was mainly driven by an 8.66% rise in Commercial Savings Products.
Table of Distribution Volume Commercial Product
Increase/Decrease
Commercial Product 2024 2023
Nominal Percentage
Commercial Loan Products (unit) 21,557 12,511 9,046 72.30%
Commercial Savings Products (aacount) 191,145 154,772 36,373 23.50%
The number of Commercial Loan products in 2024 was COMMERCIAL LOAN PRODUCT
21,557 units, an increase of 72.30% compared to 12,511 BTN provides commercial banking loans products
units in 2023. Meanwhile, the number of Commercial to provide a variety of solutions for consumers with
Savings accounts reached 154,772, reflecting a 23.50% products consisting of Housing Loans and Non-Housing
increase from 2023. The largest contribution to this Loans products. Housing Loans are in the form of
growth came from an increase in Commercial Current Construction Loans, while Non Housing Loans consist of
Accounts, which grew by 33,151 accounts or 23.04%. MSME Loans and Commercial Loans (KI, KMK and KMK
Contractor).
Table of Commercial Loan Product Distribution Value (in IDR million)
Increase/Decrease
Commercial Loan 2024 2023
Nominal Percentage
Housing Loan
Construction Loans 8,057,926 7,836,512 221,414 2.83%
Non Housing Loan
MSME Loans 6,692,911 6,520,248 172,662 2.65%
Other Commercial Loan 23,528,808 27,716,089 (4,187,282) (15.11%)
Total Commercial Loans Distribution Value 38,279,645 42,963,396 (2,332,067) (5.74%)
270 PT Bank Tabungan Negara (Persero) Tbk
Page 273
Annual
Report 2024
The disbursement value of Commercial Loans in 2024 was IDR38.27 trillion, a decrease of 5.74% compared to IDR42.96
trillion in 2023. This decline was primarily driven by a 15.11% reduction in Other Commercial Loans.
Table of Commercial Loan Product Distribution Volume (in unit)
Increase/Decrease
Commercial Loan 2024 2023
Nominal Percentage
Housing Loan
Construction Loans 3,291 3,445 (154) (4.47%)
Non Housing Loan
MSME Loans 8,393 17,026 8,633 102.86%
Other Commercial Loan 1,240 673 567 84.25%
Total Commercial Loan Distribution Volume 21,557 12,511 9,046 72.30%
The volume of Commercial Loan disbursements in 2024 Construction Loans play a strategic role in supporting the
was 21,557 units, a 72.30% increase compared to 12,511 One Million Houses Program by increasing housing supply.
units in 2023. This growth was mainly driven by a 102.86% In financing construction loans, Company considers the
increase in MSME Loans and an 84.25% rise in Other maturity period based on the estimated construction
Commercial Loans. timeline. Construction Loans are secured by collateral in
the form of land and the buildings constructed on it.
Housing Loan – Construction Loans
Housing Loans in Commercial Product is Construction Commercial product customers who have received BTN
Loans. Company provides various property construction Construction Loans may also obtain Kredit Kepemilikan
solutions with many facilities and benefits offered. Lahan (Land Ownership Loans). Company provides loan
Company provides construction loans to housing for the acquisition of land to be used for constructing
developers for working capital purposes which can be used residences and subsidized apartment, in total up to 70%
to finance the construction of houses and apartments. of the loan cost. The tenure for the loan follows the tenure
For this type of loans, company provides a maximum of the construction loan and guaranteed by the land
loans of up to 80% of development or construction costs acquired and the buildings financed, with three years
with floating interest rates. The construction loans facility period and secured by collateral in the form of land
provides convenience for commercial banking customers acquired and buildings financed.
to carry out developments in the construction of horizontal
and vertical buildings/high rise buildings including their Company distributes Construction Loans through 2 (two)
facilities and infrastructure. products, namely BTN Construction Loans and Corporate
Construction Loans
Table of Total Construction Loans Distribution Value (in IDR million)
Increase/Decrease
Construction Loans 2024 2023
Nominal Percentage
BTN Construction Loans 8,015,363 7,755,552 259,810 3.35%
Corporate Construction Loans 42,564 80,960 (38,396) (47.43%)
Total Construction Loans Distribution Value 8,057,926 7,836,512 221,414 2.83%
PT Bank Tabungan Negara (Persero) Tbk 271
Page 274
Management Discussion
and Analysis on Bank Performance
The disbursement value of Construction Loans in 2024 compared to IDR7.83 trillion in 2023. This growth was
amounted to IDR8.05 trillion, an increase of 2.83% mainly driven by a 3.35% rise in BTN Construction Loans.
Table of Construction Loans Distribution Volume (in unit)
Increase/Decrease
Construction Loans 2024 2023
Nominal Percentage
BTN Construction Loans 3,282 3,435 (153) (4.45%)
Corporate Construction Loans 9 10 (1) (10%)
Total Construction Loans Distribution Volume 3,291 3,445 (154) (4.47%)
The Construction Loan distribution volume in 2024 was 3,291 units, down 4.47% compared to 2023 which was 3,445
units. The decrease was mainly due to a decrease in the volume of BTN Construction Credit by 4.45%.
Non-Housing Loans- Small Micro and Medium Enterprises (MSMEs) Loans
Company provides MSME Loans as a solution for Micro, Small and Medium Entrepreneurs (MSME/UMKM) and aims
to channel productive business financing. Company distributes MSME Loans through several products, namely
People’s Business Loans (KUR), Micro Small Business Loans (KUMK), Working Capital Loans (KMK), MSME Investment
Loans, MSME Contractor KMK.
Table of MSME Loans Distribution Value (in IDR million)
Increase/Decrease
MSME Loans 2024 2023
Nominal Percentage
KUR 1,799,621 1,807,673 8,052 (0.45%)
KUMK 4,404,263 3,431,071 973,192 28.36%
KMK 458,846 1,225,012 (766,166) (62.54%)
MSME Investment Loans 6,820 13,925 (7,105) (51.20%)
MSME Contractor KMK 23,360 42,567 19,207 (45.12%)
Total MSME Loans Distribution Value 6,692,911 6,520,248 172,662 2.65%
The value of MSME Loan product distribution in 2024 was IDR6.69 trillion, an increase of 2.65% compared to 2023 which
was IDR6.52 trillion. The increase was mainly due to an increase in MSME distribution of 28.36%.
Table of Distribution VolumeProduk MSME Loans (in unit)
Increase/Decrease
MSME Loans 2024 2023
Nominal Percentage
KUR 13,010 8,214 4,796 58.39%
KUMK 3,817 1,405 2,412 171.67%
KMK 181 1,404 1,223 (87.11%)
272 PT Bank Tabungan Negara (Persero) Tbk
Page 275
Annual
Report 2024
Increase/Decrease
MSME Loans 2024 2023
Nominal Percentage
Kredit Investasi UMKM 3 10 7 (70.00%)
KMK Kontraktor UMKM 15 34 19 (55.88%)
Total MSME Loans Distribution Volume 17,026 11,067 5,959 53.84%
The volume of MSME Loan disbursements in 2024 totaled Non Housing Loan – Other Commercial Loan
17,026 units, a significant increase of 53.84% compared Company markets Non-Housing Loans in the form of
to 11,067 units in 2023. This growth was primarily due to a Commercial Loans, apart from providing competitive
4,796-unit rise in KUR product disbursements. interest and offering excellent service. Company
distributes Commercial Loans through several products,
namely Working Capital Loans (KMK), Investment Loan
and Contractor KMK.
Table of Other Commercial Loan Distribution Value (in IDR million)
Increase/Decrease
Other Commercial Loan 2024 2023
Nominal Percentage
KMK 16,151,633 13,463,234 2,688,398 19.97%
Investment Loans 3,763,101 6,479,667 (2,716,566) (41.92%
Contractor KMK 758,574 971,374 (212,799 (21.91%
Syndicated Loans 0 3,139,302 (3,139,302) (100.00%)
TLF 2,855,500 1,854,000 1,001,500 54.02%
Total Other Commercial Loan Distribution Value 23,528,808 27,716,089 (4,187,282) (15.11%)
The distribution value of Other Commercial Credit products in 2024 was IDR23.52 trillion, down 15.11% compared to 2023
which was IDR27.71 trillion. The decrease was mainly due to a decrease in Syndicated Credit and Investment Credit.
Table of Other Commercial Loan Distribution Volume (in unit)
Increase/Decrease
Other Commercial Loan 2024 2023
Nominal Percentage
KMK 1,045 434 611 140.78%
Investment Loans 94 122 (28) (22.95%)
Contractor KMK 101 80 21 26.25%
TLF 0 7 (7) (100.00%)
Total Other Commercial Loan Distribution Volume 1,240 552 597 92.85%
The volume of distribution of Other Commercial Credit in 2024 was 1,240 units, an increase of 92.85% compared to 2023
which was 552 units. The increase was mainly due to an increase in the volume of KMK Credit by 140.78%.
PT Bank Tabungan Negara (Persero) Tbk 273
Page 276
Management Discussion
and Analysis on Bank Performance
COMMERCIAL SAVINGS PRODUCTS
Company offers funding products and services for the commercial banking segment, including Current Accounts and
Institutional Time Deposits.
Table of Total Commercial Savings Funds (in IDR million)
Increase/Decrease
Commercial Savings 2024 2023
Nominal Percentage
Commercial Current Account 141,204,742 129,369,288 11,835,452 9.15%
Institutional Term Deposit 123,588,899 114,313,403 9,274,451 8.11%
Total Commercial Savings Funds 264,793,641 243,694,432 21,109,903 8.66%
In 2024, the total funds from Commercial Savings Products reached IDR264.79 trillion, marking an 8.66% increase
compared to IDR243.69 trillion in 2023. This growth was driven by 9.15% increase in Commercial Current Accounts and
an 8.11% rise in Institutional Time Deposits.
Table of Total Commercial Savings Funds Account (in account)
Increase/Decrease
Commercial Savings 2024 2023
Nominal Percentage
Commercial Current Account 177,042 143,891 33,151 23.04%
Institutional Term Deposit 14,103 10,881 3,222 29.61%
Total Commercial Savings Funds Account 191,145 154,772 36,373 23.50%
The number of Commercial Savings accounts in 2024 totaled 191,145 accounts, a 23.50% increase compared to
36,373 accounts in 2023. This growth was mainly attributed to the addition of 33,151 Commercial Current Accounts,
representing a 23.04% increase.
Commercial Current Account
Company provides fund saving service through Current Account. i.e, Current Account FLPP and Current Account Non
FLPP.
Table of Total Commercial Current Account Funds (in IDR million)
Increase/Decrease
Commercial Current Account 2024 2023
Nominal Percentage
Current Account Non FLPP 77,314,916 75,362,849 1,952,065 2.59%
Current Account FLPP 63,889,826 54,006,179 9,883,387 18.30%
Total Commercial Current Account Funds 141,204,742 129,369,028 11,835,452 9.15%
The total funds in Commercial Current Accounts reached IDR141.20 trillion in 2024, growing by 9.15% from IDR129.36
trillion in 2023. This increase was driven by an 18.30% rise in FLPP Current Accounts and a 2.59% rise in Non-FLPP Current
Accounts.
274 PT Bank Tabungan Negara (Persero) Tbk
Page 277
Annual
Report 2024
Table of Total Commercial Current Account Account (in account)
Increase/Decrease
Commercial Current Account 2024 2023
Nominal Percentage
Current Account Non FLPP 177,030 143,882 33,148 23.04%
Current Account FLPP 12 9 3 33.33%
Total Commercial Current Account Account 177,042 143,891 33,151 23.04%
The number of Commercial Current Accounts in 2024 reached 177,042 accounts, increasing by 23.04% compared to
33,151 accounts in 2023. This growth was mainly due to the 23.04% increase in Non-FLPP Current Accounts.
Institutional Term Deposit
Company also provides fund savings services in the form of Institutional Term Deposit through Institutional Term
Deposit products and Institutional On Call Deposits.
Table of Total Institutional Term Deposit Funds (in IDR million)
Increase/Decrease
Institutional Term Deposit 2024 2023
Nominal Percentage
Institutional Term Deposit 119,769,907 109,855,648 9,914,259 9.02%
Institutional On Call Deposits 3,818,992 4,469,756 (650,764) (14.56%)
Total Institutional Term Deposit Funds 123,588,899 114,313,404 9,263,495 8.10%
Institutional Time Deposits in 2024 totaled IDR123.58 trillion, a growth of 8.10% compared to IDR114.31 trillion in 2023. This
growth was driven by a 9.02% increase in Institutional Time Deposits.
Table of Total Institutional Term Deposit Account (in account)
Increase/Decrease
Institutional Term Deposit 2024 2023
Nominal Percentage
Institutional Term Deposit 13,736 10,674 3,062 28.69%
Institutional On Call Deposits 367 207 160 77.29%
Total Time Deposit for Agencies Account 14,103 10,881 3,222 29.61%
The number of Institutional Time Deposit accounts in 2024 reached 10,881 accounts, a 29.61% increase compared to
8,395 accounts in 2023. This increase is part of BTN’s strategy to diversify its customer base and reduce dependency
on large depositors (concentration risk).
PT Bank Tabungan Negara (Persero) Tbk 275
Page 278
Management Discussion
and Analysis on Bank Performance
Conventional Segment Innovations and Competitive Advantages
As one of the sectors contributing to GDP growth, the Within the housing ecosystem, Company plays a strategic
property sector, particularly housing, is expected to role as an enabler by providing supply-side financing
continue expanding to maintain the current economic through construction loans for developers and demand-
growth momentum. This is largely due to the significant side financing through mortgage loans for the public.
housing backlog, the property sector’s multiplier effect on Beyond its role in supply and demand financing, Company
174 other sub-sectors, and its contribution to job creation. also contributes to developing the secondary mortgage
According to BPS data from 2021, the property sector has market through mortgage securitization. In general,
directly employed up to 19 million people. Company’s role in the national housing ecosystem is
illustrated in the following diagram.
The vast potential for housing sector development is also
reflected in Indonesia’s mortgage-to-GDP ratio, which
remains around 2.9%–3.0%, significantly lower than other
Southeast Asian countries such as Singapore (44.8%),
Malaysia (38.4%), Thailand (22.3%), and the Philippines
(3.8%). This indicates substantial opportunities to further
increase the housing sector’s contribution to GDP.
BTN’s Role in the Housing Ecosystem
REGULATOR
SUPPLY SIDE supply - demand DEMAND SIDE
• SOEs Development ENABLER / INTEGRATOR
Affluent society
Construction
Mortgage
Loan Facility
Facility
BTN as a financing institution
supports the supply and
demand side People in the upper middle class
Debt Installment segment will obtain houses
Payment Payment through market mechanisms.
Performance Contribution Payment
Placement
Pioneering, (Specifically for BP
of funds,
partnerships
EBA Sales, Tapera, BPJS TK & Low-Income
Bond Issuance TWP AD) Community
• Private Development
Alternative Sources of Financing Funds
Provider of construction services To increase the repayment
and decent housing for the capacity of MBR, the government
community including for provides stimulus/subsidies:
Providers Capital
low-income communities. and On shore Off Shore FLPP, SSB, SCUM, BP2BT
market
Service
Providers
Securitization
Legal support, licensing and of bond
land provision issuance
Institutional and
Supporting Supporting KLIK
community collaboration
Professions Institutions
TWP AD
• Notary • BPN
• KJPP • Land Bank • Managing participant savings funds as a source
of housing financing (BP Tapera, BP Jamsostek, Community
TWP AD) (barbers, etc.)
As a supporter As a supporter of • Joint Financing (FLPP), refinancing and
in appraisal defense licensing securitization of KPR (SMF)
services (KJPP) (BPN) and land • Foreign funding sources (JICA) Various communities and
AND LEGALITY management (Land • Capital markets as a means for issuers to obtain institutions (Gojek drivers,
(notary) Bank) funds and the public to invest (securitization, KIK, Indomaret employees, Asgar
Bonds) barbers, etc.)
276 PT Bank Tabungan Negara (Persero) Tbk
Page 279
Annual
Report 2024
Each institution within the housing ecosystem plays a c. Establishment of an Investment Management
strategic, interconnected role that cannot be separated. company to manage TAPERA funds, develop
BTN’s role in the housing ecosystem is highly significant, Real Estate Investment Funds (DIRE)/Real Estate
serving as an enabler and integrator in the housing Investment Trusts (REITS), and Infrastructure
sector. Key stakeholders involved in the housing Investment Funds (DINFRA).
ecosystem include regulators, alternative funding d. Creating a venture capital or multifinance
providers, housing suppliers, residents or communities, company to expand ecosystem-based housing
and BTN itself. businesses.
e. Developing a property buying and selling
Conventional Segment Strategy In 2024 platform that is integrated with BTN Properti.
3. Increase Non-Subsidized KPR in the Emerging
The strategic steps taken by Company in 2024 were as Affluent and Affluent Segments
follows: a. Launching KPR bundling product with savings,
1. Refinement of Branch Operational Model namely BTN Solusi and KPR Savings
Transforming the sales-oriented branch operational b. Digitalization of the KPR process, through the
model through centralization of transaction, credit development of a tracking portal for customers
and accounting operational functions. Centralization and developers.
of operational activities were carried out in several c. Developing mortgage propositions for the
stages, namely: millennial, mass and mass affluent segments.
a. Implementing Commercial Banking Center d. Developing collaboration with top developers
(CBC) and Regional Loan Processing Center targeting housing projects in the emerging
(RLPC). affluent and affluent segments.
b. Establishing a document record center. e. Collaboration with 15 national property agents
c. Centralizing accounting functions, particularly and 6,000 individual property agents to increase
reporting. non subsidized mortgages, especially second
d. Developing cash centers and managing mortgages (KPR).
cash/physical assets for branches outside f. Upselling non-subsidized products to existing
Jabodetabek, including coordinator branches in or soon-to-be-paid-off subsidized mortgage
Surabaya and Bandung. customers.
e. Carrying out sales programs to increase branch g. Updating the BTN Properti channel by developing
office productivity through increasing employee digital marketing capabilities (SEO and SEM),
capabilities, monitoring performance in real web appearance (UI/UX), as well as increasing
time, and updating KPIs. the list of developers
f. Improving BTN Smart functions through BTN h. Creating a one-stop-shop housing ecosystem
Smart phase 3 development covering all stages of the customer life cycle.
g. Expanding marketing communication programs i. Establishing consumer sales centers to increase
via an umbrella campaign across all BTN mortgages in the emerging affluent segment
channels. with ticket sizes above IDR750 million.
h. Expanding EDC and LinkAja merchant 4. Increasing Contributions to the Subsidized KPR and
acquisitions. Wholesale Funding Programs
i. Relocating outlets to 10 (ten) cities with the a. Developing home ownership cooperation
highest growth that have micro markets with through the TAPERA program.
customer-focused and digital services. b. Developing Transit Oriented Development (TOD)
j. Revitalizing e-BATARAPOS Savings by housing construction in collaboration with BUMN
strengthening partnerships with the Indonesian Karya and other developers.
Post Office, optimizing service quality, and c. Funding cooperation for KPR distribution in the
incentive schemes. millennial and urban segments.
2. Partnership Developing d. Funding cooperation for KPR distribution from
a. Forming a venture capital company, as a TAPERA, BPJS, or other Pension Fund Management
special vehicle to develop asset management Institutions.
companies and investment in digital businesses, e. Developing potential sources of funding through
such as KPR fintech. support from the Government or other banking
b. Forming a life insurance subsidiary to optimize regulators.
the captive business (KPR). 5. Developing a Housing Value Chain Based Business
a. Developing and sell products along the value
chain of commercial developer partners.
PT Bank Tabungan Negara (Persero) Tbk 277
Page 280
Management Discussion
and Analysis on Bank Performance
b. Determining the sales process and coverage e. Developing data analytic to support business
model for commercial and MSME credit needs as well as implementing data governance
Relationship Managers (RM) to obtain business and developing big data infrastructure.
along the value chain of commercial developer f. Integration of iLoan Consumer, Commercial,
partners. Lead Management System and btnproperti.co.id
c. Developing partnerships across the real estate g. Strengthening digital and IT risk capabilities
ecosystem to provide beyond-banking services through fraud and cyber security detection
to developers. systems.
6. Developing Services to Become a One Stop Solution h. Upgrading technologies to support transaction
Banking Service capabilities and new product development
a. Developing BTN Solutions to increase customer (SmartKiosk app).
product holding, targeting state-owned i. Reorganizing IT and streamlining business
corporations (BUMN), government agencies, processes to accelerate IT project delivery.
educational institutions and large private j. Building a digital factory and infrastructure to
companies. accelerate product development.
b. Developing premium banking services for the k. Implementing umbrella contracts and
emerging affluent and affluent segments by alternative procurement methods to improve IT
developing digital and mobile banking, utilizing procurement turnaround time (TAT).
data analytics, and improving IT capabilities that l. Automating and centralizing customer complaint
support transactions processes.
c. Providing segmented services with exclusive m. Centralizing and digitizing procurement and
benefits for Sharia Prime customers. fixed asset management processes.
d. Cross-sell to KPR customers through the use of 8. Increasing Organizational Productivity, HR
data analytics. Capabilities and Work Culture
e. Becoming an operational bank for institutional a. Implementation of a Strategic Business Unit
customers. (SBU) based organizational structure to build a
f. Increasing treasury transaction productivity and performance-driven organization.
developing custodian banks b. Increasing employee productivity through
g. Supporting MSMEs with external business implementing reward management, promoting
solutions through technology partnerships. Employee Value Proposition (EVP), improving
h. Expanding Sharia value propositions with recruitment processes and channels, as well as
innovative financing solutions for developers. developing career paths.
i. Increasing non-subsidized mortgage portfolios c. Improving training and build hard skill and soft
under the Musyarakah Mutanaqisah (MMQ) skill capabilities in credit units, RM, sales force
contract. in branch offices, as well as support functions
j. Establishing partnerships with foreign financial (IT, operations, risk, and others) with good
institutions operating in Indonesia. development planning and tracking learning
7. Developing Transaction Channel Capabilities, progress digitally
Digitalization and Data Analytics d. Enhancing Sharia structuring capabilities for
a. Rebranding corporate identity, champion the legal, finance, and Sharia Supervisory Board
products, digital services, and beyond-mortgage (DPS) through the development of hard and soft
solutions. skills, as well as attracting experienced talent
b. Developing Application Programming Interface from other industries.
(API) management and sandboxing. e. Developing corporate culture aspects focused on
c. Improving the Information Technology integrity, professionalism, and innovation, while
infrastructure and functionality of the Cash launching cultural programs centered on sales
Management System (CMS) and internet and service, governance and risk management,
banking to provide competitive CMS and internet performance, and learning.
banking products for commercial customers. f. Transforming Human Capital (HC Strategic
d. Developing a digital banking strategy through Plan) to improve employee capabilities and
the development of mobile and internet banking, productivity.
virtual branches, digital payments and online
accounts opening.
278 PT Bank Tabungan Negara (Persero) Tbk
Page 281
Annual
Report 2024
9. Continuing Business Process Improvement Business Prospects and Conventional
Initiatives Segment Strategies for 2025
a. Improving the commercial credit process
through simplification of documentation, Short Term Prospect
standardization and automation of workflow/
financing processes. Credit growth in the housing sector is predicted to
b. Carrying out initiatives to improve SME financing continue growing in line with overall credit growth. In
business processes through credit process the short term, there are two main factors that will drive
automation, developing SME loans underwriting credit growth in the housing sector:
models. • The first factor is the potential increase in Home
c. Centralization of the Sharia Commercial Ownership Credit (KPR) for the Low-Income
Financing process through the establishment of Community (MBR) segment, contributed by the
a Commercial Banking Center (CBC). increased allocation of Government-Subsidized
d. Developing analytical models to support credit KPR. In 2024, the government has set an allocation
risk decision-making and monitoring. of 166,000 units for the Housing Financing Liquidity
10. Improving Financing Quality and Accelerating NPL Facility (FLPP) KPR.
Settlement • The second factor is Bank Indonesia’s policy to
a. Strengthening the collection management extend the Loan to Value (LTV)/Financing to Value
system and increasing collection desk (FTV) regulation up to 100%, which will remain in effect
productivity for the consumer credit segment. until the end of 2024. The extension of the LTV/FTV
b. Standardization of restructuring decision- policy has the potential to drive property demand in
making processes for SMEs and commercial. the upper-middle segment. This is reflected in the
c. Accelerate the sale of NPL financing through increase in the Residential Property Price Index (IHPR)
massive asset sales by implementing new for small-type houses, which is higher compared
methods (asset sales to investors/financial to medium and large-type houses. As of the third
institutions, debt recovery cooperation, litigation quarter of 2024, the IHPR for small-type houses
efforts and legal action). increased by 1.97% (yoy), medium-type houses
d. Establishing an asset management subsidiary increased by 1.33% (yoy), and the IHPR for large-type
to handle problematic loans and expand new houses increased by 1.04% (yoy).
businesses through investments in Venture
Capital Companies (PMV).
PT Bank Tabungan Negara (Persero) Tbk 279
Page 282
Management Discussion
and Analysis on Bank Performance
Medium and Long Term Prospect
The low ratio of Home Ownership Credit (KPR) to Gross Company taken into consideration for expanding its
Domestic Product (GDP) also presents an opportunity focus in developing the housing business in the future,
for Company to expand its housing business in the especially in increasing market share in the millennial
future. In the third quarter of 2023, Indonesia’s KPR-to- and emerging affluent segments. To capture this
GDP ratio was 3.00%, which is still lower compared to growth potential, next year Company will increase sales
other Southeast Asian countries, such as the Philippines of Non-Subsidized KPR by targeting top developers and
at 3.90%, Thailand at 23.90%, and Singapore at 52.10%. direct selling KPR to consumers (direct to consumer)
through collaboration with national property agents and
With the commitment to sustainability of the individuals.
Government’s One Million Houses Program and the
increasing middle income population dominated by the
millennial generation and emerging affluent segment,
Picture of Housing Loan (KPR) Business Development Prospect
3.0
34%
3.1
28%
38 %
3.9
7.7
10.1 Direct Buyer
Non-Subsidized KPR Subsidized KPR
Non-Subsidized KPR
Direct-to-consumer Developer Subsidized segment
23.9
(BTN Percentage: 12%) (Porsi BTN pada 2019: 24%) (BTN portion: 77%)
• Attractive pricing • Completion of stalled The Government’s One
for homes 38% 38% development by Million Houses Program
27.9 second vs. new home large and medium to close the housing
post COVID developers. backlog in Indonesia
• Large sales channel • Increase in income
through 15 national levels post-recovery,
35.4 property agents especially in the top 20
and 30 thousand cities, with a shift to the
individual agents mass affluent segment
52.1
Source: Bank BTN Corporate Plan 2021-2025
The demographic bonus and growth of the middle class with generation Z (aged 8 - 23 years) reaching 27.94%
population, dominated by the millennial generation, are and the millennial generation (24 - 39) at 25.87%. where
also driving the housing finance business going forward. this portion is predicted to continue to grow for the next
Based on data from the Central Statistics Agency (BPS), 10 years, which is an opportunity to develop the housing
currently the number of generation Z and the millennial business in the first home buyer segment which is
generation dominates the productive age population Company’s captive market.
280 PT Bank Tabungan Negara (Persero) Tbk
Page 283
Annual
Report 2024
Graph of Indonesia Population Projection (in Million People)
313 319
296
271
239 96
126
151
186
194
223
187
145
85
45
2010 2020 2030 2040 2045
Middle Class Other Segment
Source: National Development Planning Agency (Bappenas), 2019
Furthermore, as a sector with a multiplier effect on 174 products and services targeting the expansion of the
industrial sub-sectors, developing the value chain construction business value chain, including land
of the housing business is also one of the business acquisition, building materials, land and property
development strategies that Company will pursue. To development, construction services, and financing for
seize this opportunity, Company will develop financial developers.
Picture of Housing Business Value Chain Expansion
Land and Property Construction
Land Acquisition Basic materials Developer
Development services
Business
players
N/A N/A ~160-170rb ~6,000 ~11-12rb
Number of • National scale • Top 2 business players • Top 6 players reach • Highly concentrated • Top 10 players reach
Entrepreneurs entrepreneurs in 10 reach 75% of market ~70% market share market with large 70% market share
largest cities share (consumption (revenue) state-owned players (revenue)
and • Market is still volume) • ~20k players are covering 70-80% • ~400-600 mid-sized
competitive fragmented in small • Various SMEs act as medium to large- market share players
landscape cities with individual distributors scale construction • Main focus on • The remaining 80-90%
players companies government are SME developers
2019 • ~85% are SME infrastructure with regional focus
construction companies development
Market, 2025
Outstanding
n/a 60-70 500-530 n/a 370-400
loan, Rp T
Deposit
n/a 20-30 670-700 n/a 340-360
balance, Rp T
Source: BTN Corporate Plan 2021-2025
PT Bank Tabungan Negara (Persero) Tbk 281
Page 284
Management Discussion
and Analysis on Bank Performance
Sharia Segment
Sharia Segment Explanation and Productivity
Company is also developing a banking model that adheres to the sharia system. The Sharia Business Segment provides
savings and financing product in consumer and commercial segment. The product performance of the Sharia Segment is
described through 2 (two) products, namely Sharia Financing and Sharia Savings, with each description as follows:
SHARIA SEGMENT
SHARIA FINANCING SHARIA DEPOSIT
PRODUCT PRODUCT
SHARIA SHARIA SHARIA CONSUMER SHARIA CURRENT
COMMERCIAL SHARIA DEPOSIT SHARIA SAVINGS
FINANCING ACCOUNT
FINANCING
Preview of Sharia Segment performance can be seen in the following table and chart
Graph of Financing Position and Third Party Funds (in trillion Rupiah)
SHARIA FINANCING SHARIA SAVINGS
25.00
41.16 21.38
20.89
40.00
20.00
35.00 34.77
30.00
15.00 14.49
25.00 14.17
20.00
10.00
6.75 6.99
15.00
10.00
5.00
5.00 2.74
2.34
0.00 0.00
Consumer Commersial Current Sharia Sharia
Financing Financing Account Sharia Savings Deposit
TOTAL VALUE OF SHARIA SEGMENTPRODUCT POSITIONS
2023 2024
100.00
87
80.00 78.92
60.00
43.89 42.86
41.80
40.00 37.11
20.00
0.00
Total of Sharia Financing Total of Sharia Savings Total of Sharia Segment
Product Product Product Positions
282 PT Bank Tabungan Negara (Persero) Tbk
Page 285
Annual
Report 2024
Sharia Financing Products
Company also provides housing and non-housing Commercial Financing. Detailed information regarding
financing facilities under sharia principle, which are the performance of Company Sharia Financing products
divided into two types, i.e. Consumer and Sharia can be seen in the table and below:
Table of Sharia Financing Value Position (in IDR million)
Increase/Decrease
Sharia Financing 2024 2023
Nominal Percentage
Consumer Financing 41,156,171 34,773,107 6,383,063 18.36%
Sharia Commercial Financing 2,736,656 2,341,174 395,482 16.89%
Total Sharia Financing Value Position 43,892,827 37,114,281 6,778,545 18.26%
The total Sharia Financing distribution in 2024 reached IDR43.89 trillion, an increase of 18.26% compared to the 2023
disbursement of IDR37.11 trillion. This increase was primarily due to the growth in Consumer Financing contribution,
which rose by IDR6.38 trillion or 18.36% compared to 2023.
Table of Sharia Financing Volume Position (in financing unit)
Increase/Decrease
Sharia Financing 2024 2023
Nominal Percentage
Consumer Financing 311,252 276,508 34,744 12.57%
Sharia Commercial Financing 1,461 1,260 201 15.95%
Total Sharia Financing Value Position 312,713 277,768 34,945 12.58%
Sharia financing successfully disbursed up to 2024 b. Non Subsidized Housing Loan disbursed through:
amounted to 312,713 financing units, an increase of - KPR Platinum iB
12.58% or 34,945 financing units compared to 2023, which - KPR Indent iB
had 277,768 financing units. This growth in financing c. Non KPR disbursed through:
volume was largely driven by an increase in Consumer - House Building Financing iB
Financing of 34,744 financing units. - PUM-KB Jamsostek iB
2. NON-HOUSING FINANCING. meliputi:
SHARIA CONSUMER FINANCING a. iB Motor Vehicle Financing
Sharia Consumer Financing is distributed by Company b. iB Mortgage Financing
through the following products: c. iB Multiservice Financing
1. Housing Financing, covering: d. iB Multipurpose Financing
a. Subsidized Housing Loans disbursed through: e. Emasku Financing
- KPR BP2BT iB f. Multipurpose Financing (Soft Financing) for BTN
- KPR Sejahtera Tapak iB iB Employees
- KPR Sejahtera Susun iB
- KPR SSM Tapak iB
- KPR SSM Susun iB
- KPR Tapera iB
PT Bank Tabungan Negara (Persero) Tbk 283
Page 286
Management Discussion
and Analysis on Bank Performance
Table of Sharia Consumer Financing Position (in IDR million)
Increase/Decrease
Sharia Consumer Financing 2024 2023
Nominal Percentage
HOUSING FINANCING 40,866,065 34,604,291 6,261,774 18.10%
SUBSIDIZED HOUSING LOAN 26,521,953 22,961,992 3,559,961 15.50%
KPR BP2BT iB 551,863 581,978 (30,115) (5.17%)
KPR Sejahtera Tapak iB 18,549,858 14,313,911 4,235,947 29.59%
KPR Sejahtera Susun iB 1,363 1,440 (77) (5.35%)
KPR SSM Tapak iB 6,972,292 7,715,628 (743,336) (9.63%)
KPR SSM Susun iB 43,519 48,991 (5,472) (11.17%)
KPR Tapera iB 403,058 300,044 103,014 34.33%
Non Subsidized Housing Loan 14,303,159 11,604,082 2,699,077 23.26%
KPR Platinum iB 9,040,139 7,743,069 1,297,070 16.75%
KPR Indent iB 5,263,020 3,861,013 1,402,007 36.31%
Non KPR 40,953 38,217 2,736 7.16%
House Building Financing iB 37,172 33,330 3,842 11.53%
PUM-KB Jamsostek iB 3,781 4,887 (1,106) (22.63%)
NON-HOUSING FINANCING 290,105 168,816 121,289 71.85%
iB Motor Vehicle Financing 1,485 1,400 85 6.07%
iB Mortgage Financing - - - -
iB Multiservice Financing 20,904 15,940 4,964 31.14%
iB Multipurpose Financing 175,877 151,476 24,401 16.11%
Emasku Financing - - - -
Multipurpose Financing (Soft Financing) for
91,839 0 91,839 91.839%
BTN iB Employees
Total Sharia Consumer Financing Position 41,156,171 34,773,107 6,383,064 18.36%
The total Consumer Sharia Financing position in 2024 was IDR41,16 trillion, an 18.36% increase from IDR34,77 trillion in
2023. This financing growth was largely contributed by the KPR Sejahtera Tapak iB financing, which reached IDR18,55
trillion.
Table of Sharia Consumer Financing Volume Position (in financing unit)
Increase/Decrease
Sharia Consumer Financing 2024 2023
Nominal Percentage
HOUSING FINANCING 307,580 273,261 34,319 12.56%
SUBSIDIZED HOUSING LOAN 250,808 221,749 29,059 13.10%
KPR BP2BT iB 6,144 6,213 (69) (1.11%)
KPR Sejahtera Tapak iB 156,941 126,742 30,199 23.83%
KPR Sejahtera Susun iB 10 10 - 0.00%
284 PT Bank Tabungan Negara (Persero) Tbk
Page 287
Annual
Report 2024
Increase/Decrease
Sharia Consumer Financing 2024 2023
Nominal Percentage
KPR SSM Tapak iB 84,533 86,371 (1,838) (2.13%)
KPR SSM Susun iB 305 313 (8) (2.56%)
KPR Tapera iB 2,875 2,100 775 36.90%
Non Subsidized Housing Loan 55,899 50,544 5,355 10.59%
KPR Platinum iB 40,404 38,119 2,285 5.99%
KPR Indent iB 15,495 12,425 3,070 24.71%
Non KPR 873 968 (658) (67.98%)
House Building Financing iB 310 348 (38) (10.92%)
PUM-KB Jamsostek iB 563 620 (57 (9.19%
NON-HOUSING FINANCING 3,672 3,247 425 13.09%
IB Motor Vehicle Financing 11 15 (4) (26.67%)
IB Mortgage Financing - -
IB Multiservice Financing 296 294 2 0.68%
IB Multipurpose Financing 3,141 2,938 203 6.91%
Emasku Financing -
Multipurpose Financing (Soft Financing) for BTN iB
224 - 224 224%
Employees
Total Sharia Consumer Financing Volume Position 311,252 276,508 34,744 12.57%
The volume of Consumer Sharia Financing in 2024 SHARIA COMMERCIAL FINANCING
totaled 311,252 financing units, an increase of 12.57% or Sharia Commercial Financing is distributed by the
34,744 units compared to 276,508 units in 2023. This Company through several products as follows:
increase in Consumer Financing volume was driven by 1. Housing Financing
the growth in KPR Sejahtera Tapak iB financing, which a. BTN iB Construction Financing
accounted for 30,199 financing units. 2. Non-Housing Financing
a. MSME Sharia
b. iB Working Capital Financing
c. IB Investment Financing
Table of Sharia Commercial Financing Value Position (in IDR million)
Increase/Decrease
Sharia Commercial Financing 2024 2023
Nominal Percentage
Housing Financing 2,351,310 1,982,368 368,942 18.61%
BTN iB Construction Financing 2,351,310 1,982,367 368,942 18.61%
NON-HOUSING FINANCING 385,346 358,807 26,539 7.40%
UMKM Sharia - - - -
iB Working Capital Financing 312,871 280,771 32,100 11.43%
IB Investment Financing 72,475 78,036 (5,561) (7.13%)
Total Sharia Commercial Financing Value Position 2,736,656 2,341,174 395,482 16.89%
PT Bank Tabungan Negara (Persero) Tbk 285
Page 288
Management Discussion
and Analysis on Bank Performance
The Sharia Commercial Financing position in 2024 the rise in BTN iB Construction Financing, which grew by
reached IDR2.74 trillion, an increase of IDR39.48 billion or IDR368,94 billion.
16.89% compared to 2023. This increase was driven by
Table of Sharia Commercial Financing Volume Position (in financing unit)
Increase/Decrease
Sharia Commercial Financing 2024 2023
Nominal Percentage
Housing Financing 1,334 1,161 173 14.90%
BTN iB Construction Financing 1,334 1,161 173 14.90%
NON-HOUSING FINANCING 127 99 28 28.28%
UMKM Sharia - - - -
BTN iB Working Capital Financing 78 48 30 62.50%
IB Investment Financing 49 51 (2) (3.92%)
Total Sharia Commercial Financing Volume Position 1,461 1,260 201 15.45%
The total volume of Sharia Commercial Financing in Sharia Savings Product
2024 amounted to 1,461 units, an increase of 15.45%
compared to 1,260 units in 2023. This growth in Sharia The Company also collects third-party funds through
Commercial Financing volume was primarily driven the Sharia Business Unit through Current Account,
by BTN iB Construction Financing, which rose by 173 Savings and Sharia Time Deposits products.
financing units.
Table of Funds Position Sharia Savings (in IDR million)
Increase/Decrease
Sharia Savings 2024 2023
Nominal Percentage
Sharia Current Account 19,824,691 14,165,526 5,659,165 39,95%
Sharia Savings 7,809,712 6,749,835 1,059,877 15,70%
Sharia Time Deposits 21,987,804 20,887,524 1,100,280 5,27%
Total Funds Position Sharia Savings 49,622,207 41,802,885 7,819,322 18,71%
The total Sharia Savings Funds in 2024 reached IDR49,62 trillion, an 18.71% increase compared to IDR41,80 trillion in 2023.
This increase was largely influenced by the rise in Sharia Demand Deposits, which grew by IDR5,66 trillion or 39.95%.
Sharia Savings and Sharia Deposits also saw increases of 15.70% and 5.27%, respectively.
Table of Sharia Savings Account Volume Position (in account)
Increase/Decrease
Sharia Savings 2024 2023
Nominal Percentage
Sharia Current Account 76,270 61,128 15,142 24.77%
Sharia Savings 1,334,915 1,191,847 143,068 12.00%
286 PT Bank Tabungan Negara (Persero) Tbk
Page 289
Annual
Report 2024
Increase/Decrease
Sharia Savings 2024 2023
Nominal Percentage
Sharia Time Deposits 10,820 10,957 (137) (1.25%)
Total Sharia Savings Account Volume Position 1,422,005 1,263,932 158,073 12.51%
The total volume of Sharia Savings Accounts in 2024 accounts accompanied by a decrease in the volume of
grew by 12.51%, from 1,263,932 accounts in 2023 to Sharia Time Deposits accounts is one of the results of
1,422,005 accounts in 2024. Sharia Demand Deposits, the strategy to increase retail CASA and TPF.
with a volume growth of 24.77%, contributed the most to
the increase in Sharia savings. Sharia Savings Accounts Sharia Current Account
also increased in volume by 143,068 accounts, or 12.00%
higher than in 2023. Sharia Time Deposits was the only Sharia Savings in the form of Current Account is provided
Sharia Savings Product that experienced a decrease in through 2 (two) products, namely BTN iB Current Account
account volume in 2024 with 1.25%. The increase in the and BTN Prima iB Current Account.
volume of Sharia Current Accounts and Sharia Savings
Table of Sharia Current Account Funds Position (in IDR million)
Increase/Decrease
Sharia Current Account 2024 2023
Nominal Percentage
BTN iB Current Account 18,882,766 13,439,465 5,443,299 40.50%
BTN Prima iB Current Account 941,925 726,061 215,865 29.73%
Total Sharia Current Account Funds Position 19,824,691 14,165,526 5,659,164 39.95%
The total Sharia Current Account position in 2024 increased by 39.95% to IDR19,82 trillion, compared to IDR14,17 trillion in
2023. Both Sharia Current Account products saw an increase compared to 2023, with BTN iB Current Account rising by
40.50% to IDR18,88 trillion, and BTN Prima iB Current Account increasing by 29.73% to IDR941,93 billion.
Table of Sharia Current Account Account Volume Position (in account)
Increase/Decrease
Sharia Current Account 2024 2023
Nominal Percentage
BTN iB Current Account 74,056 59,038 15,018 25.44%
BTN Prima iB Current Account 2,214 2,090 124 5.93%
Total Sharia Current Account Account Volume 76,270 61,128 15,142 24.77%
Position
The total number of Sharia Demand Deposit accounts in SHARIA SAVINGS
2024 was 76,270, an increase of 15,142 accounts or 24.77% Sharia Savings in the form of savings are provided
compared to 2023. This growth was primarily driven by through several products, namely BTN Batara iB Savings,
BTN iB Demand Deposits, which grew by 25.44% from BTN Berkah iB Savings, BTN Hajj and Umrah iB Savings,
2023. BTN iB Demand Deposits contributed significantly TabunganKu iB, BTN Qurban iB Savings, Simpel BTN iB
to the overall increase. Savings and BTN iB Gold Savings.
PT Bank Tabungan Negara (Persero) Tbk 287
Page 290
Management Discussion
and Analysis on Bank Performance
Table of Sharia Savings Funds Position (in IDR million)
Increase/Decrease
Sharia Savings 2024 2023
Nominal Percentage
BTN Batara iB Savings 1,499,161 1,256,572 242,589 19.31%
BTN Berkah iB Saving 6,007,489 5,214,570 792,918 15.21%
BTN Haji dan Umroh iB Saving 262,503 245,314 17,190 7.01%
TabunganKu iB 15,039 13,532 1,507 11.14%
BTN Qurban iB Savings 7,334 6,092 1,242 20.39%
BTN Simpel iB Saving 7,732 6,489 1,243 19.16%
BTN Emas iB Saving 10,454 7,266 3,188 43.87%
Total Sharia Savings Funds Position 7,809,712 6,749,835 1,059,877 15.70%
The total Sharia Savings position in 2024 increased by sharing to customers. The increase in BTN Berkah
15.70% to IDR7,81 trillion, compared to IDR6,75 trillion in iB savings also shows that the performance of UUS
2023. The largest contribution to this increase came from BTN in 2024 is getting better and can provide optimal
BTN Berkah iB Savings, which grew by IDR792,92 billion. profit sharing to customers so that customers trust the
BTN Berkah iB Savings is a savings with a mudharabah placement of more funds to UUS BTN.
(investment) contract that provides profitable profit
Table of Sharia Savings Account Volume Position (in account)
Increase/Decrease
Sharia Savings 2024 2023
Nominal Percentage
BTN Batara iB Savings 786,936 701,304 85,632 12.21%
BTN Berkah iB Saving 157,409 153,644 3,765 2.45%
BTN Haji dan Umroh iB Saving 224,705 194,333 30,372 15.63%
TabunganKu iB 32,810 26,108 6,702 25.67%
BTN Qurban iB Savings 30,927 23,187 7,740 33.38%
BTN Simpel iB Saving 90,489 82,873 7,616 9.19%
BTN Emas iB Saving 11,639 10,398 1,241 11.93%
Total Sharia Savings Account Volume Position 1,334,915 1,191,847 143,068 12.00%
The total volume of Sharia Savings Accounts in 2024 SHARIA TIME DEPOSITS
reached 1.33 million accounts, a 12.00% increase Sharia Savings in the form of Deposits is provided
compared to 1.19 million accounts in 2023. The largest through 2 (two) products, namely BTN iB Time Deposits
contributor to this increase was BTN Batara iB Savings, for both individuals and institutions, as well as iB On Call
which grew by 85,632 accounts. This increase was partly Deposits.
due to the effective implementation of the CASA and
retail DPK programs.
288 PT Bank Tabungan Negara (Persero) Tbk
Page 291
Annual
Report 2024
Table of Sharia Time Deposits Funds Position (in IDR million)
Increase/Decrease
Sharia Time Deposits 2024 2023
Nominal Percentage
BTN iB (Individual) Deposits 1,472,223 1,312,892 159,331 12.14%
BTN iB (Institution) Deposits 19,236,272 18,695,037 541,235 2.90%
IB On Call Deposits 1,279,309 879,595 399,714 45.44%
Total Sharia Time Deposits Funds Position 21,987,804 20,887,524 2,464,247 12.62%
The total Sharia Deposit position in 2024 amounted performance of the BTN Sharia Business Unit in 2024
to Rp21.98 trillion, an increase of 12.62% compared to was improving and can provide optimal profit sharing
Rp20,89 trillion in 2023. The positions of BTN iB Individual to customers so that customers entrust more funds to
Deposits, BTN iB Institutional Deposits, and BTN iB On- the BTN Sharia Business Unit.
Call Deposits increased by 12.14%, 2.90%, and 45.44%,
respectively. The increase in deposits shows that the
Table of Sharia Time Deposits Account Volume Position (in account)
Increase/Decrease
Sharia Time Deposits 2024 2023
Nominal Percentage
BTN iB (Individual) Deposits 9,007 9,240 (233) (2.52%)
BTN iB (Institution) Deposits 1,689 1,662 27 1.62%
IB On Call Deposits 124 55 69 125.45%
Total Sharia Time Deposits Account Volume
10,820 10,957 (441) (3.92%)
Position
The total number of Sharia Time Deposit accounts 3. The excess reserve condition relatively high.
in 2024 was 10,820, a decrease of 3.92% compared 4. Transformation initiatives (Financing Origination
to 10,957 accounts in 2023. Although the number of System/FOS Collection, Tapera collaboration and
deposit accounts declined, the total deposit value still digital onboarding).
experienced an increase in 2024. 5. Development of sharia rent to own products
Sharia Segment Innovations Sharia Segment Strategy In 2024
and Competitive Advantages
The sharia segment strategy for 2024 included financing
Some of the competitive advantages and innovations business development strategy, funding development
carried out by the Sharia Segment could be described strategy, capital strategy, financing quality improvement
as follows: strategy, fee based income strategy, Information
1. Opportunities for captive customers with KPR, BTN iB Technology (IT) infrastructure strategy which is
Construction Financing and Institutional Funds that described as follows.
have the potential to be developed.
2. Become a partner of the Government in the National
Housing Program.
PT Bank Tabungan Negara (Persero) Tbk 289
Page 292
Management Discussion
and Analysis on Bank Performance
a. Financing Business Development Strategy
Strategy Plan Initiative
1. Increasing the market share of quality a. Optimizing Company’s portion of the 2023 FLPP KPR and TAPERA KPR quotas
subsidized KPR distribution. targeting the fixed income and ASN segments.
b. Development of H2H FLPP (Sikasep, Sikumbang, etc.), H2H PUPR (SBUM and
SSM), and H2H Tapera.
c. Development of H2H integration with insurance partners for automating the
closure of subsidized Islamic mortgage insurance (Subsidized Housing Loan iB).
d. Strategic programs with all relevant work units to achieve realization and
increase market share for subsidized mortgages (Subsidized Housing Loan).
e. Strengthening monitoring and evaluation of the subsidized mortgage
business process.
2. Expanding cooperation to optimize a. Expanding relationships with strategic institutions in the housing sector
equitable and affordable subsidized (PUPR, BP Tapera, Ministry of Finance) and supporting subsidized mortgage
mortgages (Subsidized Housing programs within the Government’s One Million Houses Program.
Loan) b. Socialization and education on FLPP mortgages and Tapera financing (KPR,
PRR, PBR) for associations and developers through webinars, developer
gatherings, expos, and other media.
c. Providing rewards and incentives for developers.
3. Optimizing the realization of a. Special marketing fees for Prima KCS developers and national property
mortgages (KPR/KPA) from Prima KCS agents.
Developers and cooperation with b. Regular gatherings with Prima KCS developers and national property agents.
national and local property agents c. Dedicated PIC for Prima KCS developers, national property agents, and
special (non-organic) marketing personnel for Prima KCS developers.
d. Providing rewards for top developers with the best performance and
realization in 2024.
e. Development of a lead management system application to facilitate the
monitoring of marketing activities for PICs of Top Developer KCS and non-
organic marketing personnel.
f. Strengthening sales organization and human resource capabilities.
4. Increasing high-yield financing in the a. Intensifying sales of Tunai Emas BTN iB and Emasku BTN iB products.
consumer segment b. Expanding partnerships with third parties (Mitra 10, Depo Bangunan, vehicle
dealers, Umrah travel agencies, and other potential parties).
c. Telemarketing to existing mortgage (KPR) customers through a top-up
financing program.
d. WhatsApp blast promotions for multipurpose and multi-benefit financing to
all BTN employees and payroll company employees.
e. Expanding product portfolio through multipurpose loans (soft financing for
employees, vehicle financing BTN iB, and multi-benefit refinancing).
5. Optimization of existing digital a. Optimizing the use of the BTN Properti portal by collaborating with developers.
platforms to support marketing and b. Creating gimmicks and promotional programs for customers who apply for
realization of subsidized mortgages KPR through BTN Properti.
and non-subsidized mortgages. c. Implementation of Consumer FOS and upgrading the Eloan application in an
effort to accelerate the financing process.
6. Strengthening the market share of a. Adding KPR Sales Centers for emerging affluent segments.
Non Subsidized Housing Loans in the b. Increasing new cooperation agreements (PKS).
emerging affluent segment. c. Optimizing existing PKS.
7. Increasing the commercial financing a. Ongoing maintenance of existing developers
portfolio and developing new b. Diversify the commercial financing portfolio selectively to SOEs (BUMN), bona
financing schemes along the housing fide private business groups and educational institutions.
value chain for the MSME, corporate c. Optimizing partnerships with the Restricted Investment (SRIA) program
and agency segments. d. Optimizing data as a source for financing pipelines.
8. Expanding Sharia Financing by a. Expanding the scope of MMQ contracts from the total Sharia financing book
developing innovative financing (10%).
solutions. b. Diversify KPR schemes using IMBT contracts
9. Expansion of Sharia Commercial a. Growth sustainable portfolio.
Financing business segment b. Establish a sustainable corporate environment.
c. Explore and elaborate customer’s needs.
d. Control loan quality
290 PT Bank Tabungan Negara (Persero) Tbk
Page 293
Annual
Report 2024
b. Funding Development Strategy
Strategy Plan Initiative
1. Reengineering of effective TPF a. Developing effective and integrated marketing communications and
marketing models and product rebranding through an umbrella campaign.
rebranding. b. Merchant and partnership promotions that can reach all of Indonesia.
c. Organizing events that directly impact business achievements through
integrated activities.
2. Strengthening the fundamentals of a. Increasing institutional savings transaction activities through special
low-cost funding and focusing on programs.
cost-of-funds (CoF) improvements. b. Bundling secondary savings products with mortgage financing (KPR).
c. Focusing KPI targets of Sharia Branch Offices (KCS) on increasing CASA and
retail deposit funds (DPK).
d. Increasing retail savings composition through intensified collaboration with
individual customers in affiliated institutions.
e. Increasing Hajj and Umrah savings through partnerships with affiliated third
parties.
f. Increasing non-FLPP Demand deposits deposits from transactional
cooperation and cash management of government institutions (Ministries/
Agencies/BLU).
g. Rebalancing core customer ratios and optimizing cost-of-funds by shifting
existing customers.
h. Implementing charitable programs such as "Sedekah Subuh" or "Jum’at
Berkah".
3. Become an Operational Bank for a. Developing the Spider Web Business Ecosystem focusing on property-related,
institutional customers. healthcare, education, and Islamic-related segments.
b. Developing giro products targeted at ministries receiving the largest APBN
budgets to acquire working units (Satker) and their partners.
c. Increase the acquisition of customers from SOEs, SOEs subsidiaries and the
private sector.
d. Increase institutional transactional cooperation through the Cash
Management System (CMS).
e. Sales focus on government customer segmentation, Ministry/Agency Working
Units and Public Service Agencies.
f. Collaborating with Islamic institutions and philanthropic organizations such
as zakat management agencies and waqf administrators.
g. Implementing the “Serbu” (Strategic Expansion) program targeting hospitals,
healthcare institutions, schools, madrasahs, Islamic boarding schools,
universities, and higher education institutions.
4. Efforts to increase CASA through a. Increasing CASA with the development of digital banking and e-banking
e-channel utilization to support features.
transactions. b. Increasing transactions with existing captive customers (Non-Subsidized
Mortgage, SME, Commercial, and Corporate customers).
c. Optimizing online account opening services in opening savings accounts.
d. Utilization of e-channels (New Mobile Banking, CMS, New Virtual Account) to
encourage transactional checking and savings accounts.
5. Development of TPF products to Development of Tapera savings based on a savings plan scheme for TAPERA
increase customer fund collection. participants.
6. Customer Segmentation Development Developing customer segmentation by providing exclusive facilities and premium
services for Sharia Prime customers.
c. Capital Strategy
To support the distribution of business development strategies. sufficient capital was required by taking into
account meeting the minimum capital requirements according to Basel III. In line with these provisions, UUS BTN
plans to have a capital position of IDR3.5 trillion in 2024. Therefore, the spin-off is expected to be carried out in 2024.
Capital strengthening efforts in 2024 will focus on:
a. Increase in profit/profitability..
b. Converting Inter-Office Accounts (RAK).
c. Issuance of Sukuk Tapera as a form of long-term funding for UUS Bank BTN liquidity.
PT Bank Tabungan Negara (Persero) Tbk 291
Page 294
Management Discussion
and Analysis on Bank Performance
d. Financing Quality Improvement Strategy
Strategy Plan Initiative
1. Strengthen the collection a. Strengthening the Collection Management System - Consumer Segment.
management system. b. Strengthening the Collection Management System - Commercial Segment
c. Aligning KCS organizational structure with SHAD organizational structure.
d. Acceleration of completion of main documents and monitoring to accelerate
litigation.
e. Improving the quality of customer data.
f. Piloting changes to collection business processes at Branch Offices (improve
desk call function)
g. Implementation of FOS Collection - Consumer Segment
2. Improve Outsourcing (TAD) a. Evaluation of TAD collection performance (engagement, workload, and
management. others)
b. Monitoring productivity of TAD collection, icoll usage and contact rating
3. Accelerate the sale of Non- a. Bulk sales of non-performing financing assets through cooperation with
Performing Loans assets. investors such as PPA, PAB, MAS, and others.
b. Expanding non-performing financing sales channels through the affordable
housing portal and e-commerce partnerships in the property sector.
c. Project assets sales to accelerate the recovery of non-performing loan
4. Massive Improvement in Quality of a. Updating data on NPF and passive commercial financing profiling.
Sharia Commercial Financing. b. Classification of NPF and passive loans into 4 (four) quadrants.
c. Participation in the BTN Project Tiger program
d. Coaching and mentoring for RM in KCS regarding commercial collection.
5. Expanding the network to third Approach the State Property and Auction Services office (KPKNL) and the Religious
parties in an effort to resolve Courts as well as expand cooperation with property agents, BLS, advocates,
financing problems. developer associations and contractors.
6. Expand policy relaxation and reward Providing policies to expedite the financing settlement process as well as
provision. providing rewards and operational assistance.
e. Fee Based Income Strategy
Strategy Plan Initiative
1. Increase in Bank administration a. Increasing the contribution of financing administration costs.
income b. Optimizing the imposition of administration fees for Third Party Funds.
2. Increase in fee/ujroh income for Bank a. Optimization of fees/ujroh on bancassurance.
services. b. Increase fees/ujroh for payroll transactions.
c. Optimization of fees/ujroh for other banking services
3. Increase transaction-based fees. a. Increase in e-channel users (Mobile Banking, CMS, VA, SMS Notification, ATM).
b. Development and improvement of e-channel features.
c. Increase Virtual Account (VA) based partnership collaboration.
292 PT Bank Tabungan Negara (Persero) Tbk
Page 295
Annual
Report 2024
f. Information Technology (IT) Infrastructure Strategy
IT development at UUS Bank BTN in 2024 was carried out by Company Headquarter in order to support corporate
plans and the aspirations of the Directors’ General Policy for 2024 in the areas of loans/financing and loans/financing
quality, funding and office networks, fee-based income, and expenses overheads. The 2024 IT development plan is
broadly in line with the main RSTI 2021-2025 Initiative, as follows:
Strategy Themes Initiatives
1. Enhancement of sharia business a. Optimization of the sharia NG computer operational system through the
process support applications enhancement of the sharia core banking system.
b. Development of the Sharia Lead Management System, including FOS – MMQ
enhancement, FOS consumer features, and FOS collection features.
c. Enhancement of payment system capabilities, such as the development of a
fast payment system (BI-Fast Phase 2) and virtual account payments via BI-
Fast.
d. Development of a system to support remittance business, including host-to-
host incoming transfers (H2H for closing insurance on subsidized KPR, non-
subsidized KPR, and non-KPR).
e. Enhancement of i-rekon.
f. Development of a treasury system.
g. Development of LPA Live by Video Call.
h. Development of a financing profiling portal for NPF and passive Sharia
Commercial Financing.
i. Development of a master data unit for construction financing.
2. Digital banking strategy. a. Modernization of digital banking through planning and upgrades, including
the development of new mobile banking, EKYC for online onboarding for UUS
BTN account opening, and virtual account services.
b. Enhancement of sharia cash management system.
c. Strengthening partnership collaborations.
3. Automation of front-end and back- Automation of business processes and improvement of IT service quality through
end processes to improve operational modernization of hardware, software/systems, infrastructure, and implementation
efficiency. of high availability in network data centers and cloud infrastructure.
4. Development of data analytics. a. Improving the quality of monthly report delivery by accelerating the End of
Month (EOM) process through IT system improvements and data management
enhancements.
b. Development of a financing profiling portal for NPF and passive Sharia
Commercial Financing.
c. Development of a master data unit for construction financing.
In addition to IT development, Company will conduct initiatives include the implementation of Identity
evaluations and updates of IT policies in accordance and Access Management, Security and Network
with regulatory requirements, internal bank policies, Monitoring and Compliance, and Integrated Patch
and best practices. To enhance the capacity and Management.
capability of the IT team, Company will provide
training and certification tailored to the specific In line with these initiatives, the following activities
needs of each team member. will be carried out: Compliance with personal data
protection law no. 27 of 2022, ensuring security
g. IT Security Strategy infrastructure availability, technology upgrades,
BTN’s IT security development aligns with the 2021– regulatory compliance fulfillment, governance of
2025 Information Technology Strategic Plan (RSTI), user data access, fraud mitigation and prevention of
which adopts the “Security by Design” approach transaction abuse (money laundering and gambling
to enhance system and application security. Key activities).
PT Bank Tabungan Negara (Persero) Tbk 293
Page 296
Management Discussion
and Analysis on Bank Performance
h. Risk and Compliance Implementation Strategy
UUS BTN’s risk and compliance implementation strategy will be executed in 2024 through BTN Induk, focusing on
the following key areas:
Strategy Themes Initiatives
1. Improving the quality of risk a. Developing digital risk and IT management capabilities through fraud
management implementation. detection and cybersecurity.
b. Optimizing IT risk management by strengthening the three lines of defense in
IT and digital areas.
c. Risk awareness fraud.
d. Implementing risk monitoring through standardization, digitalization,
guideline and tool development, and improvement of risk culture.
2. Enhancing corporate governance a. Improving the bank's governance rating.
standards. b. Increasing employee awareness regarding corporate governance.
3. Strengthening the role of AML, APU, a. Anti-Money Laundering (AML) Creative Campaign.
and PPT based on compliance with b. Workshops and training on Anti-Money Laundering (AML) Program, Counter-
mandatory regulations. Terrorism Financing (CFT), and Prevention of Financing of Proliferation of
Weapons Of Mass Destruction (PFWMD).
c. Branch visits regarding Anti-Money Laundering (AML) Program, Counter-
Terrorism Financing (CFT), and Prevention of Financing of Proliferation of
Weapons Of Mass Destruction (PFWMD).
d. Enhancing the Bank's Anti-Bribery Management System.
e. Increasing employee awareness regarding gratuities and Good Corporate
Governance (GCG).
4. Enhancing the capability and quality a. Conducting ISO 9001:2015 Quality Management System surveillance audits.
of audit implementation. b. Updating the General Audit Policy in accordance with regulations and
standards.
c. Developing a Quality Assurance Policy in accordance with regulations and
standards.
d. Optimizing the implementation of ISO 9001:2015/Standard Operating
Procedure (SOP)/Implementation Guidelines (Juklak) workshops.
5. Compliance with regulatory a. Fulfilling regulatory requirements related to the Annual Report, Sustainability
requirements. Report, Sustainable Finance Action Plan (RAKB), and Environmental, Social,
and Governance (ESG).
b. Implementing Corporate Social and Environmental Responsibility (TJSL)
in accordance with the four pillars of sustainable development: social,
economic, environmental, and legal governance.
i. Human Resource (HR) Development Strategy The human resource development strategy for 2024
Considering that UUS BTN is still classified as a Sharia is as follows:
Business Unit, its role as a liaison means that the a. Developing and implementing the EVP program
human resource development strategy of UUS BTN to enhance employee experience and attract the
follows the Human Resource Development strategy best talents through:
formulated by Company Induk. The direction of - Alignment of programs and EVP activation
the human resource development strategy is processes in line with BTN’s new branding.
that “BTN is capable of attracting and retaining - Implementation of recruitment programs for
Indonesia’s best talents who possess superior targeted campuses, namely: talent scouting,
capabilities with high productivity levels to achieve pre-graduate scholarships, career days,
strategic goals and business targets.” In 2024, the recruitment of LPDP master’s alumni, LinkedIn
theme for Human Capital development is “People partnerships, overseas career expos, and
Analytic and Employee Experience,” where the social media campaigns.
focus of Human Capital development in 2024 will b. Capability development, exposure, and career
be on the development of people analytics, service development for talents through:
improvement to support business expansion focusing - Refinement of the competency framework.
on high-yield credit/financing, development of - Strengthening the leadership development
transactional and retail DPK, improvement of credit/ program.
financing quality, enhancement of services, and
improvement of human capital processes.
294 PT Bank Tabungan Negara (Persero) Tbk
Page 297
Annual
Report 2024
- Strengthening the individual development - Partnership for funding housing projects for
program through policy formulation and the millennial and urban segments.
implementation using the 70:20:10 approach. - Developing funding schemes for the provision
- Formulation of career management and of affordable housing.
development policies, including promotion - Development of millennial housing
policies for the new grading system, changes projects at affordable prices and complete
in status transfer and SDP policies, and facilities (working space, walkable/ close
promotion policies for successors. to everywhere) through the construction of
c. Succession planning development and Transit Oriented Development (TOD).
implementation of career acceleration programs - Diversification of mortgage financing portfolio
to enhance successor readiness through: by using IMBT and MMQ contract schemes.
- Implementation of career acceleration b. Develop mortgage market share in the emerging
programs (talent acceleration program). affluent and affluent segments.
- Implementation of the BTN Millennials Leader - Increasing collaboration with Top Developers
program. (national/ gold/platinum scale) and National
- Implementation of the nominated talent and local Property Agents to target the
development program. primary and secondary mortgage markets.
d. Development of programs to retain high- - Developing collaboration with developers to
performing employees through: develop housing projects in the emerging
- Development of compensation schemes for affluent segment.
high-performing employees. - Strengthening the BTN Properti application
- Activation of engagement programs to retain and portal by digitizing the KPR process end
high-performing employees. to end, both for customers and developers.
e. Development of the human capital partnering - Evaluating developer performance by
program to enhance HC services across all conducting regular ratings so that special
work units through the development of a regular gimmicks can be given to developers with
communication framework via the People Talk good performance.
program. - Optimizing cooperation with developers
f. Supporting the implementation of Strategic by offering to prime customers and BTN
Business Unit initiatives through the cooperation partners.
implementation of self-funded incentives and - Upselling and cross selling programs for
improvement of the performance management non-subsidized products to subsidized KPR
system by: customers who have or are almost paid off
- Development of KPI cascading methods and through analytics capabilities and upselling
targets to support the Strategic Business Unit. programs.
- Development of self-funded incentive - Intensification of high-margin financing,
schemes. utilizing existing customer databases
- Development of SBU and sales unit c. Expanding the real estate value chain targeting
capabilities related to SBU. MSMEs and Contractors
- Maximizing the provision of working capital
Business Prospects and Strategy of the financing to contractor customers in
Sharia Segment For 2025 construction work for KYG Construction
Financing customers.
1. Financing Sector - Creating a one - stop - shop housing
The sharia segment has taken initiatives in ecosystem for customers’ life - cycle
developing the financing business in the short and d. Expansion of financing product schemes in the
medium term, namely as follows: KPR and Non KPR segments.
a. Develop an affordable housing ownership - Diversifying the mortgage financing portfolio
program to support the national housing using the IMBT contract scheme.
program. - Expansion of the multi-benefit product
- Optimizing BTN’s UUS portion of the FLPP and scheme through refinancing financing
TAPERA Subsidized KPR quota facilities for assets other than property with a
- Proposing additional subsidized mortgage Musyarakah Mutanaqisah (MMQ) agreement.
schemes to the government.
PT Bank Tabungan Negara (Persero) Tbk 295
Page 298
Management Discussion
and Analysis on Bank Performance
2. Financing Quality Field - Sales through the BTN low-cost housing
To achieve the target of improving the quality of portal (www.rumahmurahbtn.co.id).
financing, the strategic initiatives undertaken in the - Maximizing sales through digital platforms in
short and medium term are as follows: order to provide massive awareness to the
a. Accelerating the reduction of Low Quality public in the hope of attracting the interest of
Financing (PKR). prospective buyers.
- Optimization of customer coaching through
deskcoll and SMS. 3. Funding Sector
- Improvement of customer coaching through Initiatives to develop business funding in the short
visits and assessments conducted. and medium term are as follows:
- Acceleration of efforts to resolve Non a. Developing capabilities as a transactional bank
Performing Financing (NPF) category and transaction channel.
customers. - Developing a spider web in the business
- Post-restructuring customer coaching either ecosystem with a focus on property related,
through deskcoll or visits (in the context of healthcare, trade, and education segments.
quarantine payment). - Increasing the acquisition and transaction
b. Continuing Sharia Commercial Financing quality of e-channel services (mobile banking, CMS,
improvement initiatives QRIS, EDC and virtual accounts) through
- Updating data on NPF and passive Sharia effective promotions and campaigns.
Commercial Financing profiling. - Completing the development of digital
- Preparing a priority scale for improving the products (new BTN Sharia mobile banking,
quality of Sharia Commercial Financing. new virtual accounts, and opening of E-KYC
- Participating in the work agenda for improving online accounts) according to the timeline.
the quality of Sharia Commercial Financing. - Optimizing the productivity of office networks
- Coordinating the assets sales management in the target market area (offices, shops and
work unit with the Legal Unit to conduct shopping centers).
litigation against debtors/customers who - Increasing sales productivity through the
have the potential for recovery. development of BTN Smart.
c. Improving SDI Capabilities - Savings campaign programs and
- Conducting and/or providing time for CAMUs strategies through integrated marketing
in KCS to be given coaching and mentoring communication activities in the middle
related to financing settlement. segment and Non-Subsidized KPR customers.
- Creating a national work meeting agenda to - Bundling product acquisition and sales
evaluate performance achievements. programs to BUMN corporations, Islamic
d. Accelerating the resolution of bad financing by Educational Institutions and Other Institutions.
collaborating with external parties. - Program to increase the use of e-channel
- Looking for a wider investor network so that it transactions by KPR customers.
is expected to have a target market database b. Development of customer segmentation through
(investors). the development of segmented customer
- Cooperating with property agents, BLS, and services by providing special attention and
Advocates. exclusive facilities with the best service to prime
- Approaching third parties (KPKNL and sharia customers.
Religious Courts) as an effort to accelerate c. Becoming an Operational Bank For Institutional
the completion of financing. Fund Management
e. Accelerating the settlement of bad financing in - Increasing the acquisition of Government Task
bulk (asset sales strategy) Force (SATKER) and SPAN interconnection.
- Sales through investors or partners. - Increasing cash management acquisition
- Offers to prospective investors/partners and utilization on institutional and corporate
through small gatherings at each regional customers.
office or branch office that has a large - Developing a customer base through a
outstanding NPF (pareto). sharia business ecosystem approach that
- Sales through bulk sales. focuses on the property related, healthcare,
- Offers to prospective investors/partners that trade, education and industrial area sectors.
are made in bulk to one party.
296 PT Bank Tabungan Negara (Persero) Tbk
Page 299
Annual
Report 2024
- Developing retail and wholesale transactions - Improvement of cooperation in payment and
through acquisition and activation programs optimization of zakat, infaq, alms and waqf
for mobile banking, debit cards, EDC, QRIS, funds digitally with philanthropic institutions.
and cash management. f. Recomposition of funding portfolio.
d. CASA fund increase strategy. - Increasing VoA and NoA of BTN Hajj and Umroh
- Intensification of savings for existing financing iB Savings by establishing partnerships with
customers and collaborating institutions. strategic institutional partners including the
- Increasing sales productivity through the Ministry of Religion, BPKH, Umroh Tour and
development of BTN Smart Version 3. Travel, Islamic Mass Organizations, Islamic
- Increasing brand awareness of BTN UUS Campuses, Majelis Taklim, and so on.
through marketing communications - Recomposition of deposit portfolio by
programs. increasing the share of contribution from
- Increasing the level of transactional banking retail deposits.
through the development of e-channel
features and services, payment gateways 4. Fee Based Income Sector
and collaboration with fintech companies for To increase profitability, UUS BTN’s business plan for
digital transaction services. the next three years is also focused on increasing
- Optimizing digital banking services through Other Operating Income (POL) which is mostly
opening customer accounts online without sourced from fee-based income, especially from
customers needing to come to the outlet. new sources based on transactions and services. To
- Increasing the role of the Sharia Service Office achieve this target, the strategic initiatives carried
(KLS) in Hajj registration services and the sale out in the short and medium term are as follows:
of Hajj and Umrah savings products. a. Increase fees from contributions to financing
- Increasing CASA funds through cross-selling administration costs, third party funds and
marketing activities including investor banking services.
gatherings, property expos and individual b. Increase fees sourced from Bank Guarantee
engagement. (BG), Cash Management System (CMS) in the
- Improving services to certain customers corporate segment.
by providing special attention services c. Develope bancassurance products.
and exclusive facilities to prime customer d. Develop fees from digital and transaction
segments. banking.
- Increasing the number of savers through - Increasing e-channel users (Mobile Banking,
savings products based on the Tapera saving CMS, virtual accounts, SMS Notifications,
plan scheme. ATMs).
e. Increasing institutional and agency funds - Developing and improving e-channel
- Improvement of virtual account features for features (Online onboarding EKYC, ATMs, EDC
ministry/institution accounts. and new mobile banking).
- Improvement of cooperation with Educational - Increasing virtual account-based partnership
Institutions, Islamic Institutions, Developers, cooperation.
Ministries/Government Institutions to fulfill
the needs of institutional fund management
as well as transactional and investment
services.
PT Bank Tabungan Negara (Persero) Tbk 297
Page 300
Management Discussion
and Analysis on Bank Performance
Income and Profitability Per Business Segment
A description of the income and profitability of the business segments is presented as follows:
Table of Business Segments Income and Profitability
2024
Description
Conventional Sharia Elimination Total
Segment Income 25,472,625 4,068,967 - 29,541,592
Segment Expense (16,113,935) (1,935,005) - (18,048,940)
Segment Income-Net 9,358,690 2,133,962 - 11,492,652
Other Operating Income 4,760,640 151,115 (335,836) 4,575,919
Provision for impairment losses on financial (1,853,801) (127,694) - (1,981,495)
assets and non-financial assets
Reversal for allowance for estimated losses 195 - - 195
from commitment & contingencies
Other operating expenses (9,313,293) (1,285,101) 335,836 (10,262,558)
Income from Operational 2,952,431 872,282 - 3,824,713
Non-operating income (expenses) - net (51,993) 121 - (51,872)
Tax Expense (765,513)
Income for the year 3,007,328
Total Asset 416,184,631 60,560,957 (7,131,086) 469,614,502
Total Liabilities and Temporary Syirkah Fund 384,480,961 59,692,738 (7,131,086) 437,042,613
Table of Business Segments Income and Profitability Growth
Nominal Growth 2023-2024
Description
Conventional Sharia Elimination Total
Segment Income 750,096 510,244 - 1,260,340
Segment Expense (2,707,510) (490,468) - (3,197,978)
Segment Income-Net (1,957,414 19,776 - (1,937,638)
Other Operating Income 598,798 (3,856) 89,830 684,772
Provision for impairment losses on financial 1,799,867 (15,965) - 1,783,902
assets and non-financial assets
Reversal for allowance for estimated losses (944) - - (944)
from commitment & contingencies
Other operating expenses (1,325,179) 169,901 (89,830) (1,245,108)
Income from Operational (884,872) 169,856 - (715,016)
Non-operating income (expenses) - net 107,435 212 - 107,647
Tax Expense 113,709
Income for the year (493,660)
Total Asset 23,330,346 6,272,248 1,262,172 30,864,766
Total Liabilities and Temporary Syirkah Fund 21,398,634 6,111,223 1,262,172 28,772,029
298 PT Bank Tabungan Negara (Persero) Tbk
Page 301
Annual
Report 2024
2023
Conventional Sharia Elimination Total
24,722,529 3,558,723 - 28,281,252
(13,406,425) (1,444,537) - (14,850,962)
11,316,104 2,114,186 - 13,430,290
4,161,842 154,971 (425,666) 3,891,147
(3,653,668) (111,729) - (3,765,397)
1,139 - - 1,139
(7,988,114) (1,455,002) 425,666 (9,017,450)
3,837,303 702,426 - 4,539,729
(159,428) (91) - (159,519)
(879,222)
3,500,988
392,854,285 54,288,709 (8,393,258) 438,749,736
363,082,327 53,581,515 (8,393,258) 408,270,584
Percentage Growth 2023-2024
Conventional Sharia Elimination Total
3.03% 14.34% - 4.46%
20.20% 33.95% 0.00% 21.53%
(17.30%) 0.94% 0.00% (14.43%)
14.39% (2.49%) 0.00% 17.60%
(49.26%) 14.29% 0.00% (47.38%)
(82.88%) 0.00% 0.00% (82.88%)
16.59% (11.68%) (21.10%) 13.81%
(23.06%) 24.18% 0.00% (15.75%)
(67.39%) (232.97%) 0.00% (67.48%)
(12.93%)
(14.10%)
5.94% 11.55% (15.04%) 7.03%
5.89% 11.41% (15.04%) 7.05%
PT Bank Tabungan Negara (Persero) Tbk 299
Page 302
Management Discussion
and Analysis on Bank Performance
Income and Profitability Growth for each Business
Segment is as follows:
• Conventional • Sharia
Company recorded a net income of IDR9.36 Company posted net income from the sharia
trillion in the conventional segment in 2024, segment in 2024 of IDR2.13 trillion, an increase of 0.94%
down 17.30% compared to IDR11.32 trillion in 2023. compared to IDR2.11 trillion in 2023. This increase is
Likewise, operating profit from the conventional in line with the increase in operating profit from the
segment decreased 23.06% to IDR2.95 trillion in sharia segment which rose 24.18% to IDR872.28 billion
2024 compared to IDR3.84 trillion in 2023. This in 2024 compared to IDR702.43 billion in 2023. The
achievement was caused by Company only increase in profit was accompanied by an increase
posting a net interest income of IDR11.73 trillion or in other operating income in 2024.
down 14.1% yoy. This is in line with Company’s loan
and financing distribution which only grew 7.3% yoy
to IDR357.97 trillion, while the industry grew higher,
reaching 10.39% in 2024.
National Strategic Project (PSN) or Other Assignments
Information regarding other assignments mandated by the Government to the Company is as follows:
Table of Other Assignment
Government Total of
Program
No. Assignment Basis/Rules Program Explanation Mandated Distribution/
Name
Quota Amount Realization
1. a. Letter from the Coordinating People KUR is a working capital IDR3 trillion IDR1.79 trillion.
Ministry for Economic Affairs of Business Loan and/or investment credit Micro Business
the Republic of Indonesia, Deputy (KUR) provided by the Bank Loan BTN
for Macroeconomic and Financial to debtors engaged in focuses on
Coordination No. PK.KUR/257/ business sectors that increasing the
D.I.M.EKON/12/2023 dated December according to their scale Micro Micro
29, 2023 concerning the 2024 BTN have the status of Micro, Business Loan
Micro Business Loan Distribution Small and Medium growth segment
Ceiling. Enterprises (MSMEs) in with yoy growth
b. Letter from the Coordinating productive and feasible in 2024 of
Ministry for Economic Affairs of business sectors but do 113.9% and IT
the Republic of Indonesia, Deputy not yet have additional development
for Macroeconomic and Financial collateral or the for the Micro
Coordination No. PK.KUR/182/ additional collateral is not Business Loan
D.I.M.EKON/11/2024 dated November sufficient digitalization
4, 2023 regarding the Response to process and
the Adjustment of the 2024 Micro scoring model.
Business Loan Distribution Ceiling of
PT Bank Tabungan Negara (Persero)
Tbk.
2. Cooperation Agreement between Distribution of KPR FLPP is a support 114,803 units 114,853 units
the People's Housing Savings KPR FLPP by BTN for housing financing
Management Agency and PT Bank liquidity facilities landed
Tabungan Negara (Persero) Tbk houses or flats for Low
regarding the Distribution of Housing Income Communities
Financing Liquidity Facility Funds (MBR).
Through Welfare Home Ownership
Loan for Low-Income Communities.
a. Cooperation Agreement No. 25/
PKS/BP-TPR/IV/12/2023
b. Cooperation Agreement No. 52/
PKS/DIR/2023
300 PT Bank Tabungan Negara (Persero) Tbk
Page 303
Annual
Report 2024
Government Total of
Program
No. Assignment Basis/Rules Program Explanation Mandated Distribution/
Name
Quota Amount Realization
3. Cooperation Agreement between the Distribution of KPR Tapera is a loan - 3,812 units
People's Housing Savings Management KPR Tapera by provided for the purchase
Agency and PT Bank Tabungan Negara BTN of a first home specifically
(Persero) Tbk regarding Distribution of for civil servants (PNS)
Housing Financing for People's Housing participating in Tapera.
Savings Participants.
a. Cooperation Agreement No. 15/PKS/
DIR/2022
b. Cooperation Agreement No. 15/PKS/
BP-TPR/IV/12/2022
4. Cooperation Agreement between Distribution of SBUM is a housing 114,835 114,835
the Work Unit of the Directorate Down Payment financing facility provided
General of Public Works and Housing Assistance by the government for
Infrastructure Financing of the Ministry Subsidy (SBUM) lowincome people. The
of Public Works and Public Housing and by BTN assistance provided is
PT Bank Tabungan Negara (Persero) in the form of fulfilling
Tbk regarding the Distribution of part or all of the down
Housing Down Payment Assistance payment for the
Subsidies at PT Bank Tabungan Negara purchase of a house.
(Persero) Tbk in 2023.
a. Cooperation Agreement 01/
PKS/2024
b. Cooperation Agreement 13/PKS/
Satker-DJPI/2024
Note: *) The quota for distributing Tapera mortgages is not specifically determined
PT Bank Tabungan Negara (Persero) Tbk 301
Page 304
Management Discussion
and Analysis on Bank Performance
Financial
Review
The financial review described below refers to the Review the financial position of PT Bank Tabungan
Financial Statements for the year ending 31 December, Negara (Persero) Tbk as of December 31, 2024 and the
2024 presented in this Annual Report. The Financial financial performance and cash flows for the year ends
Report has been audited by the Purwantono, Sungkoro on that date in accordance with Financial Accounting
& Surja Public Accounting Firm and received an opinion Standards in Indonesia.
that it presents fairly, in all material respects, Financial
Financial Performance
Company’s financial performance consisted of the performance of the Statement of Financial Position, the Statement
of Profit and Loss and Other Comprehensive Income as well as the Cash Flow Statement which was presented as
followed.
Statement of Financial Position
Table of Statement of Financial Position (in IDR million)
Growth
Description 2024 2023
IDR %
1 2 3 (4) = (2)-(3) (5) = (4)/(3)
ASSET
Cash 2,105,620 2,127,489 (21,869) (1.03%)
CURRENT ACCOUNTS WITH BANK INDONESIA 22,739,920 18,145,761 4,594,159 25.32%
CURRENT ACCOUNTS WITH OTHER BANKS
Third parties 886,415 1,153,949 (267,534) (23.18%)
Related parties 5,065,331 1,049,449 4,015,882 382.67%
5,951,746 2,203,398 3,748,348 170.12%
Allowance for impairment losses (2,571) (1,804) (767) 42.52%
5,949,175 2,201,594 3,747,581 170.22%
PLACEMENTS WITH BANK INDONESIA AND
OTHER BANKS
Third parties 4,661,043 30,561,061 (25,900,018) (84.75%)
Related parties 61 61 - 0.00%
4,661,104 30,561,122 (25,900,018) (84.75%)
SECURITIES
Third parties 19,874,205 1,454,768 18,419,437 1.266.14%
Related parties 5,489,205 3,851,105 1,638,100 42.54%
25,363,410 5,305,873 20,057,537 378.03%
Allowance for impairment losses (787) (22,903) 22,116 (96.56%)
25,362,623 5,282,970 20,079,653 380.08%
GOVERNMENT BONDS
302 PT Bank Tabungan Negara (Persero) Tbk
Page 305
Annual
Report 2024
Growth
Description 2024 2023
IDR %
1 2 3 (4) = (2)-(3) (5) = (4)/(3)
Related parties 35,475,529 35,893,929 (418,400) (1.17%)
SECURITIES PURCHASED UNDER AGREEMENT
TO RESELL
Third parties 175,625 - 175,625 100.00%
Related parties - - - -
LOANS AND SHARIA FINANCING/RECEIVABLES
Loans
Third parties 286,144,106 268,898,377 17,245,729 6.41%
Related parties 27,935,999 27,685,483 250,516 0.90%
314,080,105 296,583,860 17,496,245 5.90%
Allowance for impairment losses (11,727,934) (14,191,536) 2,463,602 (17.36%)
302,352,171 282,392,324 19,959,847 7.07%
Sharia financing/receivables
Third parties 43,681,345 37,027,078 6,654,267 17.97%
Related parties 211,482 87,203 124,279 142.52%
43,892,827 37,114,281 6,778,546 18.26%
Allowance for impairment losses (1,329,253) (1,400,428) 71,175 (5.08%)
42,563,574 35,713,853 6,849,721 19.18%
344,915,745 318,106,177 26,809,568 8.43%
DERIVATIVE RECEIVABLES
Third parties 102,843 32,176 70,667 219.63%
ACCEPTANCES RECEIVABLES
Third parties 508,190 475,821 32,369 6.80%
Related parties 433,708 68,746 364,962 530.88%
Total from Third Parties and related parties
941,898 544,567 397,331 72.96%
Acceptance Receivables
Allowance for impairment losses (1,987) (23,876) 21,889 (91.68%)
939,911 520,691 419,220 80.51%
PREMISES AND EQUIPMENT
Cost/revaluation value 14,059,957 12,953,746 1,106,211 8.54%
Accumulated depreciation (4,883,826) (4,835,934) (47,892) 0.99%
9,176,131 8,117,812 1,058,319 13.04%
INTEREST RECEIVABLES 11,518,574 11,526,687 (8,113) (0.07%)
DEFERRED TAX ASSETS - NET 2,286,038 2,998,282 (712,244) (23.76%)
OTHER ASSETS 4,205,664 3,235,046 970,618 30.00%
TOTAL ASSETS 469,614,502 438,749,736 30,864,766 7.03%
LIABILITIES, TEMPORARY SYIRKAH FUNDS AND EQUITY
LIABILITIES
LIABILITIES DUE IMMEDIATELY 2,644,422 3,277,514 (633,092) (19.32%)
DEPOSITS FROM CUSTOMERS
Demand deposits
PT Bank Tabungan Negara (Persero) Tbk 303
Page 306
Management Discussion
and Analysis on Bank Performance
Growth
Description 2024 2023
IDR %
1 2 3 (4) = (2)-(3) (5) = (4)/(3)
Third parties 19,418,767 20,957,283 (1,538,516) (7.34%)
Related parties 121,604,495 108,412,008 13,192,487 12.17%
141,023,262 129,369,291 11,653,971 9.01%
Wadiah Demand deposits
Third parties 2,255,148 2,402,428 (147,280) (6.13%)
Related parties 16,627,618 11,037,037 5,590,581 50.65%
18,882,766 13,439,465 5,443,301 40.50%
159,906,028 142,808,756 17,097,272 11.97%
Saving deposits
Third parties 36,777,689 37,029,999 (252,310) (0.68%)
Related parties 922,460 692,162 230,298 33.27%
37,700,149 37,722,161 (22,012) (0.06%)
Wadiah Saving deposits
Third parties 1,520,491 1,274,456 246,035 19.31%
Related parties 1,441 2,136 (695) (32.54%)
1,521,932 1,276,592 245,340 19.22%
39,222,081 38,998,753 223,328 0.57%
Time Deposit
Third parties 76,672,689 63,976,056 12,696,633 19.85%
Related parties 76,636,682 76,717,583 (80,901) (0.11%)
153,309,371 140,693,639 12,615,732 8.97%
Total deposits from customers 352,437,480 322,501,148 29,936,332 9.28%
DEPOSITS FROM OTHER BANKS
Third parties 70,035 91,312 (21,277) (23.30%)
SECURITIES SOLD WITH A PROMISE TO
REPURCHASE
Third parties 2,446,384 - 2,446,384 (100.00%)
Related parties 963,042 - 963,042 (100.00%)
3,409,426 - 3,409,426 (100.00%)
ACCEPTANCES PAYABLE
Third parties 251,423 320,522 (69,099) (21.56%)
Related parties 690,475 224,045 466,430 208.19%
941,898 544,567 397,331 72.96%
SECURITIES ISSUED
Third parties 844,058 2,403,573 (1,559,515) (64.88%)
Related parties 4,600,466 5,868,525 (1,268,059) (21.61%)
5,444,524 8,272,098 (2,827,574) (34.18%)
FUND BORROWINGS
Third parties 10,132,859 11,308,799 (1,175,940) (10.40%)
Related parties 23,352,225 22,453,290 898,935 4.00%
304 PT Bank Tabungan Negara (Persero) Tbk
Page 307
Annual
Report 2024
Growth
Description 2024 2023
IDR %
1 2 3 (4) = (2)-(3) (5) = (4)/(3)
33,485,084 33,762,089 (277,005) (0.82%)
INTEREST PAYABLE 658,070 647,496 10,574 1.63%
ESTIMATED LOSSES ON COMMITMENTS AND
3,385 3,580 (195) (5.45%)
CONTINGENCIES
EMPLOYEE BENEFITS AND OTHER LIABILITIES 2,372,168 2,951,848 (579,680) (19.64%)
SUBORDINATED LOAN
Third parties 4,828,105 4,612,840 215,265 4.67%
Related parties 1,500,000 4,499,997 (2,999,997) (66.67%)
6,328,105 9,112,837 (2,784,732) (30.56%)
TOTAL LIABILITIES 407,794,597 381,164,489 26,630,108 6.99%
TEMPORARY SYIRKAH FUNDS
DEPOSITS FROM CUSTOMERS
Mudharabah current accounts
Third parties 929,940 712,587 217,353 30.50%
Related parties 11,985 13,474 (1,489) (11.05%)
941,925 726,061 215,864 29.73%
Mudharabah saving deposits
Third parties 6,161,887 5,331,249 830,638 15.58%
Related parties 125,893 141,993 (16,100) (11.34%)
6,287,780 5,473,242 814,538 14.88%
Mudharabah time deposits
Third parties 15,129,659 11,975,188 3,154,471 26.34%
Related parties 6,857,408 8,908,369 (2,050,961) (23.02%)
21,987,067 20,883,557 1,103,510 5.28%
Total deposits from customers 29,216,772 27,082,860 2,133,912 7.88%
DEPOSITS FROM OTHER BANKS
Mudharabah current accounts
Third parties 9,214 4,154 5,060 121.81%
Mudharabah saving deposits
Third parties 21,730 14,781 6,949 47.01%
Mudharabah time deposits
Third parties 300 4,300 (4,000) (93.02%)
Total deposits from other banks 31,244 23,235 8,009 34.47%
TOTAL TEMPORARY SYIRKAH FUNDS 29,248,016 27,106,095 2,141,921 7.90%
EQUITY
Issued and fully paid capital 7,017,222 7,017,222 - 0.00%
Additonal paid-in capital 4,418,900 4,418,900 - 0.00%
Capital deposit fund - - - -
PT Bank Tabungan Negara (Persero) Tbk 305
Page 308
Management Discussion
and Analysis on Bank Performance
Growth
Description 2024 2023
IDR %
1 2 3 (4) = (2)-(3) (5) = (4)/(3)
Unrealized net gains (losses) and allowance
for impairment losses on securities and
government bonds are measured at fair (1,107,982) (769,001) (338,981) 44.08%
value through other comprehensive income
after deferred tax.
Remeasurement of Defined Benefit Plan - net
(424,015) (560,339) 136,324 (24.33%)
of deferred tax
Effective portion of the cash flow Hedge (44,082) (32,346) (11,736) 36.28%
Revaluation surplus of premises and
3,565,773 3,565,773 - 0.00%
equipment
Retained earnings *)
Appropriated 15,982,004 13,181,214 2,800,790 21.25%
Unappropriated 3,164,069 3,657,729 (493,660) (13.50%)
TOTAL EQUITY 32,571,889 30,479,152 2,092,737 6.87%
TOTAL LIABILITIES, TEMPORARY SYIRKAH
469,614,502 438,749,736 30,864,766 7.03%
FUNDS AND EQUITY
*) The deficit balance of IDR14,226,290 million was eliminated due to quasi reorganization on May 31, 2007.
Graph of Statement of Financial Position (in IDR trillion)
469.61
438.75
407.79
381.16
27.11 29.25 30.48 32.57
ASSET LIABILITIES TEMPORARY SYIRKAH EQUITY
FUNDS
2023 2024
Total Asset Current Asset
Total assets in 2024 were IDR469.61 trillion, an increase CASH
of 7.03% compared to IDR438.75 trillion in 2023. The
increase was mainly due to current accounts with other Company recorded cash in 2024 of IDR2.11 trillion, down
banks, derivative receivables, and securities 1.03% compared to 2023 which reached IDR2.13 trillion. This
decrease was influenced by a reduction in cash in Rupiah
306 PT Bank Tabungan Negara (Persero) Tbk
Page 309
Annual
Report 2024
currency of IDR2.07 trillion in 2024 from the previous year 2023 which was IDR32.17 billion. The increase was mainly
of IDR2.09 trillion. Cash mainly consists of cash in the due to the withdrawal of derivative transactions from
treasury and cash in ATMs in both Rupiah and foreign various banks.
exchange. Foreign currency recorded at IDR33 billion
in 2024 consisting of United States Dollars, Singapore ACCEPTANCES RECEIVABLES
Dollars, European Euros, Australian Dollars, British Pound
Sterling, Saudi Arabian Riyals, Japanese Yen, Malaysian Company’s acceptance receivables increased by
Ringgit, Renminbi, and Hong Kong Dollars. 80.51% in 2024 to IDR939.91 billion from IDR520.69 billion
in 2023. This increase mainly came from the increase
CURRENT ACCOUNTS WITH BANK INDONESIA in SKBDN transactions from related parties and third
parties to IDR433.70 billion and IDR508.19 billion in 2024
Current accounts with Bank Indonesia showed an from IDR68.74 billion and IDR475.82 billion in 2023.
increase of 25.32% from IDR18.16 trillion in 2023 to
IDR22.74 trillion in 2024. The increase in Current Accounts SECURITIES PURCHASED WITH A COMMITMENT TO
with Bank Indonesia mainly occurred in Rupiah currency RESALE
from IDR17.61 trillion in 2023 to IDR21.13 trillion in 2024.
And the increase was due to an increase in TPF. As of Company recorded new financial assets issued or
December 31, 2024, the Company has met the ratio purchased in 2024 in the form of securities purchased
in accordance with the provisions stipulated by with agreements to resale amounting to IDR175.63 billion.
Bank Indonesia with the Minimum Legal Reserve
Requirements (GWM) in Rupiah and Foreign Currency Non-Current Asset
and MacroprudentialLiquidity Buffer PLM ratios of 5.00%;
4.00%; 5.00%. SECURITIES
CURRENT ACCOUNTS WITH OTHER BANKS Securities are one of the alternative fund placements
carried out by BTN, in addition to getting interest income
Current accounts with other banks recorded by from investments, Company also gets non-interest
Company reached IDR5.95 trillion in 2024, increasing income or sales transactions and mark to market on
by 170.12% compared to IDR2.20 trillion in 2023. This these securities. Company’s securities increased by
is in line with the influence of the increase in current 378.03% to IDR25.35 trillion in 2024 from IDR5.30 trillion in
accounts with other banks in foreign currency by 196% to 2023. This increase is in line with the increase in third-
IDR5.82 trillion in 2024. Allowance for impairment losses party securities classified as fair value through profit
amounted to IDR2.57 billion in 2024 and IDR1.80 billion in and loss of IDR19.36 trillion.
2023. The average interest rate per year for this account
in Rupiah currency is 0.78%. GOVERNMENT BONDS
PLACEMENTS WITH BANK INDONESIA AND OTHER BANKS Company’s ownership of government bonds decreased
to IDR35.47 trillion in 2024 compared to IDR35.89 trillion in
Company recorded placements with Bank Indonesia and 2023. The decrease was due to matured securities.
Other Banks of IDR4.66 trillion in 2024. This achievement
decreased by 84.75% from the previous year which LOAN GRANTED AND SHARIA FINANCING/RECEIVABLES
reached IDR30.56 trillion. This decrease is in line with the
decrease in placements with Bank Indonesia and Other The expansion of loan distribution and sharia
Banks in foreign currencies from third parties in 2023 by receivables/financing carried out by Company amidst
IDR18.41 trillion to IDR1.85 trillion in 2024. the momentum of economic recovery was able to boost
the growth of this account by 7.27% to IDR357.97 trillion in
All placements with Indonesian banks and other banks 2024 compared to IDR333.69 trillion in 2023. This increase
as of December 31, 2024 and 2023 are classified as also came from loan provided and sharia receivables/
current with an average interest rate for Rupiah of 5.47% financing which grew by 18.26 to IDR43.89 trillion in 2024
and foreign currencies of 5.27% in 2024. from IDR37.11 trillion in 2023.
DERIVATIVE RECEIVABLES
The amount of Derivative Receivables in 2024 was
IDR102.84 billion, an increase of 219.63% compared to
PT Bank Tabungan Negara (Persero) Tbk 307
Page 310
Management Discussion
and Analysis on Bank Performance
In addition, the growth of sharia loan and receivables/ increase in acceptance liabilities in the form of SKBDN
financing distribution in 2024 was also driven by the Letter of Credit.
largest increase in the type of consumer loan of IDR294.45
trillion. Meanwhile, the increase in people’s purchasing Short-Term Liabilities
power is reflected in the increase in consumer loan
which was able to grow 10.38% to IDR271.08 trillion in 2023 LIABILITIES DUE IMMEDIATELY
from IDR245.58 trillion the previous year.
Company recorded immediate liabilities in 2024 of
On the other hand, the three industries receiving the IDR2.64 trillion, down 19.32% compared to IDR3.28 trillion
largest Company loan distribution are housing at in 2023. This is in line with the decrease in payment of
85.62%, construction at 4.10%, and business services at obligations to third parties and maturing time deposits
3.34%, which each grew by 22.45%; 4.48% and 53.41% that have been taken by customers.
in 2023 to IDR285.69 trillion; IDR13.67 trillion; and IDR11.14
trillion. DEPOSITS FROM CUSTOMERS
PREMISES AND EQUIPMENT Company’s customer deposits or third party funds
(TPF) consist of demand deposits and wadiah demand
Company recorded net fixed assets in 2024 of IDR9.18 deposits, savings and wadiah savings, and time
trillion or grew 13.04% compared to 2023 which reached deposits. BTN’s total TPF in 2024 increased by 9.28% to
IDR8.12 trillion. To support smooth operations and IT IDR352.43 trillion compared to IDR322.50 trillion in 2023.
capacity, in 2023 Company carried out fixed asset Of this TPF amount, low-cost funding or CASA in 2024
purchase activities and IT infrastructure development. reached 11.97% or equivalent to IDR159.90 trillion. In 2024.
Some of these include land purchases for office network
development, office building construction, mobile cash DEPOSITS FROM OTHER BANKS
cars, operational support machines and application/
software development. Company recorded deposits from other banks in the
form of demand deposits, time deposits and interbank
INTEREST RECEIVABLES call money. Cumulatively, the amount of deposits from
other banks reached IDR70.04 billion in 2024, down
The interest that will still be received in 2024 is IDR11.52 23.30% from IDR91.31 billion in 2023. This decrease was
trillion, down 0.07% compared to 2023 which was due to deposits that had matured.
IDR11.53 trillion. The interest components that are still
received consist of Interest on credit given, Government ACCEPTANCES PAYABLE
Bonds, Securities and placements in other banks and
derivatives. Company recorded acceptance liabilities of IDR941.90
billion in 2024, growing 72.96% compared to 2023 of
DEFERRED TAX ASSETS-NET IDR544.57 billion. This increase was in line with the
increase in Domestic Documented Letters of Credit
Company recorded deferred tax assets in 2024 reaching (SKBDN) compared to the previous year.
IDR2.28 trillion or down 23.76% compared to 2023 of
IDR2.99 trillion. The decrease was caused by temporary Long Term Liabilities
differences between financial and tax reports.
SECURITIES ISSUED
OTHER ASSETS
The amount of Securities Issued in 2024 is IDR5.44 trillion,
Company recorded other assets in 2024 reaching down 34.18% compared to 2023 which was IDR8.27 trillion.
IDR4.20 trillion or growing 30.00% compared to 2023 of The decrease was mainly due to matured NCDs.
IDR3.23 trillion. Consisting of Third party receivables and
Prepaid Tax. LOAN RECEIVED
Total Liabilities Loans received by Company reached IDR33.49 trillion,
down 0.82% compared to 2023 of IDR33.76 trillion. The
Total liabilities in 2024 amounted to IDR407.79 trillion, an decrease was mainly due to maturing loans in rupiah
increase of 6.99% compared to 2023 which amounted currency from Citibank amounting to IDR139.86 billion.
to IDR381.16 trillion. The increase was mainly due to an
308 PT Bank Tabungan Negara (Persero) Tbk
Page 311
Annual
Report 2024
INTEREST STILL TO BE PAID Time Deposits. The bank recorded customer deposits of
IDR29.22 trillion in 2024, reflecting a 7.88% increase from
Company’s accrued interest in 2024 amounted to IDR27.08 trillion in 2023. This growth was driven by the
IDR658.07 billion, an increase of 1.63% compared to increase in temporary syirkah funds from mudharabah
2023 which amounted to IDR647.49 billion. The accrued time deposits and mudharabah demand deposits.
interest consists of time deposits, subordinated loans
and subordinated securities, loans received, securities Deposits from Other Banks
issued and derivatives.
The total deposits from other banks in 2024 amounted
ESTIMATION OF COMMITMENT AND CONTINGENCY to IDR31.24 billion, reflecting a 34.47% increase compared
LOSSES to IDR23.24 billion in 2023. This growth was driven by the
increase in temporary syirkah funds from mudharabah
Company recorded an estimated loss on commitments demand deposits and mudharabah savings deposits.
and contingencies of IDR3.39 billion, down 5.45%
compared to 2023 of IDR3.58 billion. The decline is Total Equity
directly proportional to Company’s commitment and
contingency exposure in 2024. BTN was able to record stronger equity in 2023, mainly
supported by better profitability, thereby increasing
EMPLOYEE BENEFITS AND OTHER LIABILITIES retained earnings for that year. Company’s equity
reached IDR32.57 trillion, reflecting a 6.87% increase
Company recorded employee benefits and other from IDR30.47 trillion in 2023. This growth was primarily
liabilities in 2024 of IDR2.37 trillion, down 19.64% compared supported by retained earnings, which amounted to
to IDR2.95 trillion in 2023. This is in line with the decrease IDR19.15 trillion in 2024, marking a 13.70% increase from
in the formation of reserves for bonuses and tantiem, IDR16.84 trillion in 2023.
which are obligations for employee production services
in the current year that have not been distributed at the Issued and Fully Paid Capital
end of the year.
Company recorded issued and fully paid-up capital
SUBORDINATED LOAN AND SECURITIES SUBORDINASI of IDR7.01 trillion in 2024, remaining unchanged from
the previous year, as there were no corporate actions
The amount of Company Subordinated Loans and related to new share issuance throughout 2024.
Subordinated Securities in 2024 amounted to IDR6.33
trillion, down 30.56% compared to 2023 which amounted Additonal Paid-In Capital
to IDR9.11 trillion. The decrease was mainly due to the
difference in the exchange rate of subordinated bonds Company recorded additional paid-in capital of IDR4.42
in foreign currencies. trillion in 2024, remaining unchanged from the previous
year.
Temporary Syirkah Funds
Net Unrealized Loss Allowance for and
Temporary Syirkah Funds are receipts and investments Impairmant Losses on Securities and Goverment
from mudharabah muthlaqah, mudharabah at Fair Value Trough Other Comprehensive
muqayyadah, musyarakah and other similar accounts. Income Net of Deferred Tax
Temporary Syirkah Funds consist of Mudharabah
Savings, Mudharabah Deposits and Musyarakah. The Unrealized Net Gain on Securities and Government Bonds
amount of Temporary Syirkah funds In 2024 amounted Measured Based on Fair Value through Comprehensive
to IDR29.24 trillion, reflecting a 7.90% increase compared Income, after Deferred Tax in 2024 was (IDR1.11 trillion),
to IDR27.11 trillion in 2023. This growth was primarily driven improving by 44% compared to (IDR769 billion) in
by the increase in third-party mudharabah demand 2023. This improvement was driven by the enhanced
deposits. collectibility quality of securities and government bonds.
Deposits from Customers
Company customer deposits consist of Mudharabah
Current Account, Mudharabah Savings and Mudharabah
PT Bank Tabungan Negara (Persero) Tbk 309
Page 312
Management Discussion
and Analysis on Bank Performance
Remeasurement of Defined Benefit Plan - Net or Revaluation Surplus of Premises And Equipment
Deferred Tax
The Revaluation Surplus Of Premises And Equipment in
Company did not record any remeasurement of the 2024 amounted to IDR3.57 trillion, remaining unchanged
defined benefit program (after tax) in 2024, representing from the previous year. No asset revaluation was
a 100% decrease compared to (IDR560.34 billion) in 2023. conducted in 2024.
This decline was due to the impact of the employee
benefits program calculation (PSAK 24), which affected Retained Earnings
BTN’s comprehensive expenses in 2023.
The retained earnings in 2024 amounted to IDR19.14
Effective Portion of Cash Flow Hedge trillion, reflecting a 13.70% increase compared to IDR16.84
trillion in 2023. This growth aligns with the bank’s strong
The effective portion of cash flow hedges in 2024 operational performance throughout 2024.
amounted to (IDR44.08 billion), improving by 36.28%
compared to (IDR32.35 billion) in 2023. This improvement
was driven by an increase in comprehensive income for
the year related to hedging activities.
Statement of Profit or Loss and Other Comprehensive Income
Table of Statement Of Profit Or Loss And Other Comprehensive Income (in IDR million)
Growth
Description 2024 2023
IDR %
1 2 3 (4) = (2)-(3) (5) = (4)/(3)
INCOME AND EXPENSES FROM OPERATIONS
Interest Income and Income from Profit
Sharing
Interest 25,472,625 24,722,529 750,096 3.03%
Profit sharing and margin from sharia unit 4,068,967 3,558,723 510,244 14.34%
Total Interest Income and Income from Profit
29,541,592 28,281,252 1,260,340 4.46%
Sharing
Interest, Profit Sharing and Bonus Expenses
Interest (15,913,459) (13,203,108) (2,710,351) 20.53%
Other financing expenses (200,476) (203,317) 2,841 (1.40%)
Wadiah Bonus (153,446) (71,621) (81,825) 114.25%
Third parties’ share on return of
(1,781,559) (1,372,916) (408,643) 29.76%
Mudharabah
Total Interest, Profit Sharing and Bonus
(18,048,940) (14,850,962) (3,197,978) 21.53%
Expenses
Interest Income and Income from Profit
11,492,652 13,430,290 (1,937,638 (14.43%)
Sharing-Net
Other Operating Income
Administration fees and penalties in
1,072,304 1,096,346 (24,042) (2.19%)
deposits and loans
Income from recovery of loans written-off 1,338,753 934,191 404,562 43.31%
Gain on sale of securities-Net 932,900 6,669 926,231 13.888.60%
Gain on sale of government bonds-Net 49,049 541,392 (492,343) (90.94%)
310 PT Bank Tabungan Negara (Persero) Tbk
Page 313
Annual
Report 2024
Growth
Description 2024 2023
IDR %
1 2 3 (4) = (2)-(3) (5) = (4)/(3)
Unrealized (loss) gain on changes in fair
30,175 1,802 28,373 1.574.53%
value of securities - net
Unrealized (loss) gain on changes in fair
- - - -
value government bonds - net
Others 1,152,738 1,310,747 (158,009) (12.05%)
Total Other Operating Income 4,575,919 3,891,147 684,772 17.60%
Provision for impairment losses on financial
(1,981,495) (3,765,397) 1,783,902 (47.38%)
assets and non-financial assets
(Provision for) Reversal of Estimated losses
195 1,139 (944) (82.88%)
on Comitement and Contingies
Other operating expenses
General and administrative (4,456,861) (3,884,779) (572,082) 14.73%
Salaries and employee benefits (4,445,575) (3,982,503) (463,072) 11.63%
Premium on government’s guarantee
(729,685) (656,774) (72,911) 11.10%
program
Unrealized losses on changes in fair value
(40,444) (5,780) (34,664) 599.72%
of government bonds - net
Loss on sale of governmen bonds - net - - - -
Loss on sale of securities - net - - - -
Unrealized losses on changes in fair value
- - - -
of securities- net
Others (589,993) (487,614) (102,379) 21.00%
Total Other operating expenses (10,262,558) (9,017,450) (1,245,108) 13.81%
INCOME FROM OPERATIONAL 3,824,713 4,539,729 (715,016) (15.75%)
NON-OPERATING EXPENSES-NET (51,872) (159,519) 107,647 (67.48%)
INCOME BEFORE TAX EXPENSE 3,772,841 4,380,210 (607,369) (13.87%)
TAX EXPENSE (765,513) (879,222) 113,709 (12.93%)
INCOME FOR THE YEAR 3,007,328 3,500,988 (493,660) (14.10%)
Other Comprehensive Income:
Items that will not be reclassified to profit
or loss
Fixed Asset Revaluation - 57,208 (57,208) (100.00%)
Remeasurement of defined benefit plan 168,301 (186,027) 354,328 (190.47%)
Income tax related to items that will not be
(31,977) 35,345 (67,322) (190.47%)
reclassified to profit or loss
Items that may be reclassified to profit or
loss
Efffective part of cash flow hedge (14,490) 20,932 (35,422) (169.22%)
PT Bank Tabungan Negara (Persero) Tbk 311
Page 314
Management Discussion
and Analysis on Bank Performance
Growth
Description 2024 2023
IDR %
1 2 3 (4) = (2)-(3) (5) = (4)/(3)
Net unrealized gain (loss) on changes
in value and allowance for impairment
losses of securities and government bonds (421,538) 517,528 (939,066) (181.45%)
classified as fair value through other
comprehensive income
Income tax related to Items that may be
85,311 (97,254) 182,565 (187.72%)
reclassified to profit or loss
Total Comprehensive Incomes (loss) for the
2,792,935 3,848,720 (1,055,785) (27.43%)
year
EARNINGS PER SHARE
Basic (full amount) 214 249 (35) (14.06%)
Graph of Statement of Profit or Loss and Other Comprehensive Income (in IDR trillion)
13.43
11.49
4.58 4.54
3.89 3.82 3.85
3.50
3.01 2.79
Interest Income Other Operating Income From Income For The Comprehensive
and Income from Income Operations Year Incomes for the
Profit Sharing Year
2023 2024
Income and Expenses from Operations
Interest Income and Income from Profit Sharing-Net
The net interest income and profit-sharing in 2024 the third-party share of mudharabah profit-sharing
amounted to IDR11.49 trillion, reflecting a 14.43% decline increased by 29.76% (an increase of IDR1.78 trillion) in
compared to IDR13.43 trillion in 2023. This decrease was 2024, compared to IDR1.37 trillion in 2023. Meanwhile,
primarily due to the increase in total interest expenses, total interest income and income from profit sharing
profit-sharing, and bonuses in 2024, driven by a 20.53% were the largest contribution in 2024 with a growth of
rise in interest expenses (an increase of IDR2.71 trillion), 3.03% or an increase of IDR750.10 billion from 2023.
bringing the total interest expense to IDR15.91 trillion in
2024, compared to IDR13.20 trillion in 2023. Additionally,
312 PT Bank Tabungan Negara (Persero) Tbk
Page 315
Annual
Report 2024
Interest, Profit Sharing and Bonus Expenses (14.73%), reaching IDR4.46 trillion in 2024, compared
to IDR3.88 trillion in 2023. This was followed by an
The total interest expenses and profit-sharing in 2024 increase in employee salaries and benefits, which rose
amounted to IDR18.05 trillion, reflecting a 21.53% increase by IDR463.07 billion (11.63%), amounting to IDR4.45
compared to IDR14.85 trillion in 2023. This increase in trillion in 2024, compared to IDR3.98 trillion in 2023. In
interest expenses, profit-sharing, and bonuses was addition, the increase in other operational expenses
driven by the growth in customer and interbank deposits, was caused by an increase in other expenses consisting
which serve as the bank’s primary funding sources. As of representation expenses, meeting entertainment
a result, interest expenses rose by 20.53% (amounting expense and expenses related to the settlement of
to IDR2.71 trillion so that in 2024 it was IDR15.91 trillion, customer deposits and developer guarantee funds.
compared to IDR13.20 trillion in 2023). Additionally,
the third-party share of mudharabah profit-sharing Income From Operational
increased by 29.76%, or IDR408.64 billion in 2024 reaching
IDR1.78 trillion in 2024, compared to IDR1.37 trillion in 2023. Company recorded operating profit of IDR3.82 trillion
in 2024, reflecting a 15.75% decrease (IDR715.02 billion
Other Operating Income lower) compared to IDR4.54 trillion in 2023. This decline
was in line with the increase in interest expenses,
Company recorded total other operating income of profit-sharing, and bonuses, as well as other operating
IDR4.58 trillion in 2024, reflecting a 17.60% increase expenses, which amounted to IDR18.05 trillion and
compared to IDR3.89 trillion in 2023. The largest IDR10.26 trillion, respectively, in 2024.
contributor to this growth was the gain on the sale
of securities, which amounted to IDR926.23 billion, Non-Operating Income (Expenses) - Net
representing a 1,388.60% increase from the previous
year. This was followed by an increase in recoveries of Company recorded non-operating expenses net of
written-off assets, which reached IDR1.34 trillion in 2024, IDR51.87 billion in 2024, reflecting a decrease from
marking a 43.31% rise compared to IDR934.19 billion in the previous year, which recorded net non-operating
2023. expenses of IDR159.52 billion. This is mainly due to
the existence of profits/losses from exchange rate
Provision for Impairment Losses on Financial revaluation, administrative fines, profits/losses from
Assets and Non-Financial Assets buying and selling foreign currency, and environmental
development costs.
The total allowance for impairment losses on financial
and non-financial assets in 2024 amounted to IDR1.98 Income Before Tax Expense
trillion, reflecting a 47.38% decrease (IDR1.78 trillion
lower) compared to IDR3.77 trillion in 2023. This decline After deducting non-operating expenses net of IDR51.87
was supported by improved credit management. billion from the operating profit of IDR3.82 trillion,
Company recorded a pre-tax profit of IDR3.77 trillion
(Provision For) Reversal of Estimated Losses on in 2024, reflecting a 13.87% decrease (IDR607.37 billion
Comitement and Contingies lower) compared to 2023. This decline was in line with the
increase in interest expenses, profit-sharing, bonuses,
The provision for estimated impairment losses on and other operating expenses in 2024.
commitments and contingencies in 2024 amounted to
IDR195 million, compared to a reversal of IDR1.14 billion in Tax Expense
2023. This increase in provisions was driven by the rise in
undrawn credit/financing facilities or outstanding Letters The total tax expense in 2024 amounted to IDR765.51
of Credit (LC) and SKBDN that had not yet matured. billion, reflecting a 12.93% decrease compared to
IDR879.22 billion in 2023. This decline was due to the
Other Operating Expenses decrease in pre-tax profit by IDR607.37 billion, from
IDR4.38 trillion in 2023 to IDR3.77 trillion in 2024.
Company recorded total other operating expenses
of IDR10.26 trillion in 2024, reflecting a 13.81% increase
compared to IDR9.02 trillion in 2023. The largest
contributor to this increase was the rise in general and
administrative expenses, which grew by IDR572.08 billion
PT Bank Tabungan Negara (Persero) Tbk 313
Page 316
Management Discussion
and Analysis on Bank Performance
Income for the Year Comprehensive Income for the Year
Company recorded a net profit for the year of IDR3.01 Company successfully recorded a comprehensive
trillion in 2024, reflecting a decrease of IDR493.66 billion income for the year of IDR2.79 trillion in 2024, reflecting a
(14.10%) compared to IDR3.50 trillion in 2023. This decline 27.43% decrease compared to IDR3.85 trillion in 2023. This
was in line with the increase in interest expenses, profit- decline was primarily due to unrealized net losses from
sharing, and other operating expenses in 2024. changes in the fair value of securities and government
bonds measured through other comprehensive income,
Other Comprehensive Income amounting to IDR421.54 billion in 2024, and a decrease
in income tax related to accounts that will not be
The other comprehensive income in 2024 amounted reclassified to profit and loss of Rp31.98 billion in 2024.
to IDR214.39 billion, a decrease compared to IDR347.73
billion in 2023. This decline was influenced by unrealized Earnings Per Share
net losses from changes in the fair value of securities
and government bonds measured through other The basic earnings per share (EPS) in 2024 amounted to
comprehensive income. IDR214, reflecting a 14.06% decrease compared to IDR249
in 2023. This decline was in line with the decrease in net
profit for the year in 2024.
Statement of Cash Flow
Table of Statement of Cash Flow (in IDR million)
Growth
Description 2024 2023
IDR %
1 2 3 (4) = (2)-(3) (5) = (4)/(3)
CASH FLOWS FROM OPERATING ACTIVITIES
Interest, profit sharing, and margin 29,689,639 27,618,186 2,071,453 7.50%
Recoveries from loan debts written-off 1,421,221 1,011,258 409,963 52.80%
Interest and bonus, fees and commissions
(17,973,763) (14,892,249) (3,144,063) 21.20%
paid
Corporate income tax paid (912,208) (1,020,952) 108,744 (10.65%)
Other operating expenses - Net - - - 0%
Other Non-Operating Expenses - Net (9,585,564) (8,729,240) (856,324) 9.81%
Receipt of tax assessment letter (63,538) (54,382) (9,156) 16.84%
Cash receipts before changes in operating
5,788,810 6,871,033 (1,082,223) (15.75%)
assets and liabilitie
Changes in operating assets and liabilities
Decrease (increase) in operating assets:
Fair value through profit or loss securities (18,286,677) (246,380) (18,040,297) 7.322.14%
Fair value through profit or loss government
490,445 15,788,979 (15,298,534) (96.89%)
bonds
Acceptance receivable (397,331) (124,005) (273,326) 220.42%
Derivatives receivable (70,666) (70,666) (100%)
314 PT Bank Tabungan Negara (Persero) Tbk
Page 317
Annual
Report 2024
Growth
Description 2024 2023
IDR %
1 2 3 (4) = (2)-(3) (5) = (4)/(3)
Loans and sharia financing/receivables (27,739,554) (38,484,306) 10,744,752 (27.92%)
Other assets (136,021) (785,307) 649,286 (82.68%)
Increase (Decrease) in operating liabilities: - - - -
Liabilites due immediately (441,930) 74,415 (516,345) (693.87%)
Deposits from customer - - - -
Demand Deposits 11,653,971 24,468,372 (12,814,401) (52.37%)
Wadiah Demand deposits 5,443,299 4,814,656 628,643 13.06%
Savings deposits (22,012) 1,539,832 (1,561,844) (101.43%)
Wadiah Savings 245,340 82,875 162,465 196.04%
Time Deposit 12,615,733 (5,504,388) 18,120,121 (329.19%)
Deposit from other banks (21,277) (45,095) 23,818 (52.82%)
Acceptance payables 397,331 124,005 273,326 220.42%
Other liabilities (416,997) (4,184,154) 3,767,157 (90.03%)
Temporary syirkah funds 2,141,920 2,243,821 (101,901) (4.54%)
Net Cash Provided by Operating Activities (8,755,616) 6,634,353 (15,389,969) (231.97%)
CASH FLOW FROM INVESTING ACTIVITIES
(Purchase)receipt from matures amortized
(2,878,561) (2,868,515) (10,046) 0.35%
cost securities
Acquisitions of premises and equipment (1,634,521) (2,313,490) 678,969 (29.35%)
(Purchase) receipt in fair value through other
(31,199) (1,247,159) 1,215,960 (97.50%)
comprehensive income securities
Receipt in fair value through other
(1,163,910) 2,211,325 (3,375,235) (152.63%)
comprehensive income government bonds
(Receipt) purchase of amortized cost
562,232 (1,655,566) 2,217,798 (133.96%)
government bonds
Placement of securities purchased under
(20,867,689) (43,597,267) 22,729,578 (52.14%)
agreement to resell
Receipt of securities purchased under
20,704,263 45,031,457 (24,327,194) (54.02%)
agreement to resell
Sales of fixed assets 3,045 0 3,045 100%
Net Cash Provided by (Used in) Investing
(5,306,340) (4,439,215) (867,125) 19.53%
Activities
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds of securities issued 680,913 2,449,019 (1,768,106) (72.20%)
Payment of matured securities issued (3,572,500) (2,769,764) (802,736) 28.98%
Receipt of securities sold under agreement
143,153,604 67,691,353 75,462,251 111.48%
to repurchase
PT Bank Tabungan Negara (Persero) Tbk 315
Page 318
Management Discussion
and Analysis on Bank Performance
Growth
Description 2024 2023
IDR %
1 2 3 (4) = (2)-(3) (5) = (4)/(3)
Payments of matured securities sold under
(139,744,766) (67,691,353) (72,053,413) 106.44%
repurchase agreements
Dividend payments (700,198) (609,015) (91,183) 14.97%
Proceeds from fund borrowings 11,144,193 11,185,162 (40,969) (0.37%)
Payment of fund borrowings (11,385,262) (2,187,576) (9,197,686) 420.45%
Payment of lease liabilities (93,408) (81,973) (11,435) 13.95%
Payments of matured Subordinated Loan
(3,000,000) - (3,000,000) (100%)
and Securities
Shares issuance - 1,330,093 (1,330,093) (100.00%)
Net Cash (Used in) Provided by Financing
(3,517,424) 9,315,946 (12,833,370) (137.76%)
Activities
NET INCREASE IN CASH AND CASH
(17,579,380) 11,511,084 (29,090,464) (252.72%)
EQUIVALENTS
CASH AND CASH EQUIVALENTS AT BEGINNING
53,037,770 41,526,686 11,511,084 27.72%
OF YEAR
CASH AND CASH EQUIVALENTS AT END OF
35,458,390 53,037,770 (17,579,380) (33.15%)
YEAR
Graph of Statement of Cash Flow (in vtrillion)
9.32
6.63
Net Cash Used for
Investing Activities
Net Cash (used for) Net Cash (used for)
provided from Operating provided from Financing
Activities Activities
(3.52)
(4.44)
(5.31)
(8.76)
2023 2024
Cash Flows from Operating Activities
Company recorded net cash used for operating disbursed loans. In contrast, in 2023, BTN generated net
activities of (IDR8.76 trillion) in 2024. This was due to cash cash from operating activities amounting to IDR6.63
outflows related to securities measured at fair value and trillion.
316 PT Bank Tabungan Negara (Persero) Tbk
Page 319
Annual
Report 2024
Cash Flow From Investing Activities Loan Agreement Considerations – Ensuring thorough
evaluation before entering into agreements with
Company recorded net cash used for investing activities creditors, Fulfillment of Obligations – Committing to
of (IDR5.31 trillion) in 2024, compared to (IDR4.44 trillion) timely repayment of principal and interest, as well as
in 2023. The increase in Net cash for investing activities adherence to contractual terms. Basic Creditor Rights,
from 2024 was influenced by (purchase) receipts at which include Receiving principal and interest payments
maturity of securities measured at amortized cost, as agreed. Entitlement to late payment penalties for
acquisitions of premises and equipment, and (Purchase) delayed principal or interest payments. The right to
receipt from matures amortized cost securities. request information, access documents, and review
Company’s financial records. In 2024, Company had
Cash Flows from Financing Activities bilateral loan creditors and investors in debt securities
and/or Sukuk (EBUS), ensuring continued compliance
Company recorded net cash used for financing with its creditor obligations.
activities of (IDR3.52 trillion) in 2024, compared to net
cash generated from financing activities of IDR9.32 Ability To Pay Short-Term Debt
trillion in 2023. The increase in net cash outflows from (Bank Liquidity)
financing activities was primarily driven by higher loan
repayments. One way to know the ability to pay short-term debt
is through the liquidity ratio. Company used several
liquidity parameters, namely the Macroprudential
Ability to Pay Debt and Collectability Liquidity Buffer Ratio (PLM) and Minimum Statutory
of Accounts Receivable Reserves (GWM), Loan to Deposit Ratio (LDR) and
Macroprudential Intermediation Ratio (RIM).
Ability to Pay Debt
Macroprudential Liquidity Buffer Ratio
Bank BTN’s ability to pay its liabilities or debt can be (PLM) And Minimum Reserve Requirements
measured by using the liquidity ratio, solvency and (GWM)
profitability ratios. These ratios become the parameters
in calculating the Bank BTN’s ability to allocate liquidity The Statutory Reserves (Demand deposits Wajib Minimum
reserves. With regard to issued bonds, the company’s - GWM) serve as a key indicator for maintaining liquidity
ability to meet its debt obligations is reflected in the ratios. Company ensures that its GWM requirements,
timely payment of interest and the credit rating of the both in Rupiah and foreign currency (Valas), comply
issued securities. with the regulations set by the authorities. In addition
to meeting the GWM requirements, Company also
Creditor Rights Protection maintains the Macroprudential Liquidity Buffer Ratio
(Penyangga Likuiditas Makroprudensial - PLM). This ratio
Company has established a Creditor Rights Policy as represents the minimum liquidity reserves in Rupiah that
a guideline for managing its obligations to creditors. Commercial Banks (Bank Umum Conventional - BUK)
The policy aims to ensure creditor rights are upheld must maintain in the form of eligible securities as per
while maintaining trust and confidence in Company’s regulatory requirements.
financial integrity. Key aspects of this policy include:
Table of PLM and GWM Ratio (in %)
Category Currency 2024 2023 Increase/Decrease
Conventional IDR:
Primary (GWM) 5.38 6.04 (0.66%)
PLM 12.73 9.66 3.07%
US Dollar 4.18 4.40 (0.22%)
Sharia IDR 4.70 6.10 (1.40)
PT Bank Tabungan Negara (Persero) Tbk 317
Page 320
Management Discussion
and Analysis on Bank Performance
The required threshold for Statutory Reserves (GWM) in Macroprudential Intermediation Ratio (RIM)
Rupiah that must be maintained by Commercial Banks
(BUK), as per regulatory requirements, is 9%. In 2024, RIM was a form of strengthening of the Loan to Funding
BTN Conventional maintained a Rupiah GWM of 5.38%, Ratio (LFR). RIM was the ratio of loans extended to third
reflecting a 0.66% decrease compared to 6.04% in 2023. parties in Rupiah and foreign currencies, excluding loans
This decline was due to an incentive from Bank Indonesia, to other banks plus securities owned, to:
granting BTN Conventional a 4% GWM reduction, an 1. Third party funds which included current accounts,
increase from 3.20% in 2023. The higher incentive savings and time deposits in Rupiah and foreign
resulted from changes in GWM fulfillment regulations, currencies, did not include interbank funds.
as stipulated in PADG No. 4 of 2024, which amends 2. Securities in Rupiah and foreign currencies that met
PADG No. 11 of 2023 regarding the implementation of certain requirements issued by Company.
macroprudential liquidity incentives. Bank Indonesia
provides liquidity incentives to banks, including BTN In accordance with Bank Indonesia Regulation
Conventional, that extend credit/financing to specific (PBI) Number 20/4/ PBI/2018 dated 29 March 2018,
economic sectors, such as inclusive financing, ultra- concerning “Macroprudential Intermediation Ratio
micro (UMi) financing, and environmentally sustainable and Macroprudential Liquidity Buffer for Conventional
projects. Due to this incentive, the threshold GWM in Commercial Banks, Sharia Commercial Banks and
Rupiah that must be maintained declined from 5.8% in Sharia Business Units” as amended by PBI Number
2023 to 5% in 2024. 21 /12/PBI/2019 dated 25 November 2019, PBI Number
22/17/PBI/2020 dated 30 September 2020, and PBI
The Foreign Currency Statutory Reserves (GWM Valas) Number 24/16/PBI/2022 dated 1 November 2022. Banks
in 2024 was maintained at 4.18%, lower than the 4.40% must maintain a RIM ratio of 84% to 94 %. In 2024, the
recorded in 2023. This adjustment was made to optimize Company’s RIM is 92.60%, an increase compared to 2022
excess foreign currency liquidity to enhance revenue which was 85.76%.
while ensuring compliance with regulatory requirements.
Company also manages liquidity reserves in the form
The increase in the Macroprudential Liquidity Buffer of High Quality Liquid Assets (HQLA) which was also
(PLM) ratio from 9.66% to 12.73% in 2024 was influenced a liquidity component, which was determined at an
by the rise in the position of securities classified as optimal amount in the range above the minimum HQLA
eligible under PLM regulations. The PLM compliance limit every day to support the Company’s liquidity needs
refers to Governor Board Member Regulation (PADG) and maintenance of GWM and PLM as determined by
No. 18 of 2023, which amends PADG No. 21/22/PADG/2019 Bank Indonesia . The Company’s secondary reserve
concerning Macroprudential Intermediation Ratio and position is always maintained above the minimum
Macroprudential Liquidity Buffer for Conventional Banks, secondary reserve limit throughout 2024.
Islamic Banks, and Islamic Business Units. It also aligns
with Bank Indonesia Regulation (PBI) No. 24/16/PBI/2022, Loan to Deposit Ratio (LDR)
which serves as the fourth amendment to PBI No. 20/4/
PBI/2018 regarding Macroprudential Intermediation Ratio The Loan-to-Deposit Ratio (LDR) is a key parameter for
and Macroprudential Liquidity Buffer for Conventional measuring a bank’s liquidity health. It represents the
Banks, Islamic Banks, and Islamic Business Units. proportion of loans disbursed to third parties compared
to third-party funds (customer deposits). In 2024,
The Minimum Reserve Requirement (GWM) for Islamic Company’s LDR stood at 93.79%, a decrease from 95.36%
Business Units (UUS) is set at 7.5% as per regulations. in 2023. This decline reflects BTN’s strategy of balancing
However, Company received a GWM incentive from credit disbursement with third-party fund collection to
Bank Indonesia of 3.3%, reducing the minimum required maintain bank liquidity.
Sharia GWM compliance to 4.2%. Meanwhile, the GWM
for Conventional Banks is 9%. To achieve the targeted Ability to Pay Long-Term Debt
credit growth in priority sectors, Company received a (Bank Solvability)
GWM incentive from Bank Indonesia of 3.2%, lowering the
minimum required GWM compliance to 5.8%. The capital ratio was one of the parameters used in
measuring the solvency ratio. In accordance with
its commitment to run the banking business with
prudent principles and in accordance with applicable
regulations, Company ensured that the Capital
Adequacy Ratio (CAR) was able to meet credit risk,
market risk and operational risk.
318 PT Bank Tabungan Negara (Persero) Tbk
Page 321
Annual
Report 2024
The Capital Adequacy Ratio (CAR) is a crucial In 2024, Company’s total capital amounted to IDR31.66
parameter for measuring a bank’s solvency. As part trillion, consisting of Core capital with IDR29.22 trillion,
of its commitment to prudent banking practices and Supplementary capital: IDR2.43 trillion. Meanwhile, BTN’s
regulatory compliance, Company ensures that its CAR Risk-Weighted Assets (RWA) for 2024 stood at IDR174.44
remains sufficient to cover credit risk, market risk, and trillion, resulting in a Capital Adequacy Ratio (CAR) of
operational risk. This ratio reflects the bank’s ability to 18.15%.
absorb potential losses and maintain financial stability
while continuing to grow its business sustainably. Ability To Pay Debt Of Securities Issued
In accordance with Bank Indonesia (BI) regulations, The ability to pay debt could also be reflected based on
the Minimum Capital Requirement (KPMM)/CAR set for the rating of the securities issued by the Bank, namely
banks with a risk profile of “2” is 9.25%. The amount of bonds. Securities issued regularly were assessed by a
capital for credit risk consists of Core Capital (Tier I) and rating agency to support the eligibility of securities. The
Supplementary Capital (Tier II). quality of securities was largely determined by the ability
of the securities issuing company to pay its securities at
maturity and its ability to pay interest or coupons during
the term of the securities issuance.
Table of Ability to Pay Debt from Securities Issued
Rating
Information
2024 2023
Sustainable BBTN II Phase I 2015 Series D AA+(idn) AA+(idn)
Sustainable BBTN III Phase I 2017 series D AA+(idn) AA+(idn)
Junior Global Bond Bank BTN (USD) Ba3 Ba3
Sustainable BBTN IV Phase I 2020 series C AA+(idn) AA+(idn)
Sustainable BBTN IV Phase II 2022 series A AA+(idn) AA+(idn)
Sustainable BBTN IV Phase II 2022 series B AA+(idn) AA+(idn)
Note : The rating for BTN’s outstanding Juneor Global Bond (USD) in 2024 is based on Moody’s rating.
Table of Security Rank Meaning
Rating Agency Rating Meaning of Rank
Moodys Ba3 Issuers rated Ba have speculative, or independent, intrinsic financial strength and are
subject to substantial credit risk in the absence of possible support from affiliates or the
Government.
Fitch Ratings AA ‘AA’ National Ratings indicate a very low level of expected default risk compared to other
Indonesia issuers or bonds in the same country or monetary union. The inherent risk of default is only
slightly different from that of the highest-rated issuer or bond in the country.
In the rating category, Fitch may use modifiers. A “+” or “–” sign can be added to the rating
to indicate the status within the main rating category.
BTN has been assigned a “+” modifier, reflecting its very strong liquidity profile.
PT Bank Tabungan Negara (Persero) Tbk 319
Page 322
Management Discussion
and Analysis on Bank Performance
Receivable Collectibility
Bank collectibility is reflected from the Non-Performing distributed to customers. The smaller the NPL ratio, the
Loan (NPL) ratio. NPL ratio is a benchmark to assess better the collectibility and loan quality.
the amount of problem loans or loss out of all loans
Table of Collectability (in IDR million)
2024 2023
Description
Minus Sharia Plus Sharia Minus Sharia Plus Sharia
Segment Segment Segment Segment
Total Loans/Financing 314,080,105 357,972,932 296,583,860 333,698,141
Performing Loan (PL) 304,022,694 346,654,931 287,420,712 323,649,241
Current 273,060,967 312,597,793 263,614,334 297,250,597
Special Mention 30,961,727 34,057,137 23,806,378 26,398,644
Non Performing Loan (NPL) 10,057,411 11,318,001 9,163,148 10,048,900
Substandard 605,276 872,072 393,326 571,273
Doubtful 1,748,284 1,939,769 538,432 677,813
Loss 7,703,851 8,506,160 8,231,390 8,799,814
PL 96.80% 96.84% 96.91% 96.99%
NPL Gross 3.20% 3.16% 3.09% 3.01%
NPL Net 1.91% 1.89% 1.48% 1.32%
The NPL Gross for the Sharia segment in 2024 stood at 3.20%, increasing slightly from 3.16% in 2023. This condition was
primarily due to the maturity of most financing loans and loan settlements.
Table of Credit Written-Off (in IDR million)
2024 2023
Description
Number of Write-off Value (in Number of Write-off Value (in
Debtors million IDR) Debtors million IDR)
Conventional 16,761 3,200,092 11,099 2,705,785
Sharia 2,102 281,309 1,897 322,241
Total 18,863 3,481,401 12,996 3,028,026
320 PT Bank Tabungan Negara (Persero) Tbk
Page 323
Annual
Report 2024
The following are the strategic initiatives implemented in 2024 to improve the Non-Performing Loan (NPL) ratio:
Implementation of Chatbot Artificial Coll Scoring Development Stage 2 iColl Assessment Application New Management System
Intelligence (AI) Loan Quality Collection Finding
Impact: Facilitating the Impact: Aligning iColl with other
Impact: Expanding debtor identification of delinquent debtor collection features, such as Impact: Establishing a more
engagement coverage through risk through collection scoring. WhatsApp (WA), SMS, talkbot, and capable collection management
electronic media WhatsApp (WA) GPS tracking. system.
and increasing the debtor contact
rate.
Development of Property Agency Pilot Monoline Implementation Loan Desk Collection for iColl Development for Risk
Collaboration of 3 KC Unsecured Debitur Briefing Appetite Statement
Impact: Increasing the number Enhancing the effectiveness of Impact: Establishing a desk Impact: RAS activities can be
of officers handling asset sales collection officer coordination collection to support the billing carried out digitally, particularly in
through property agents. through organizational structure activities of unsecured loans. profiling and other operations.
simplification.
Training for Collection and RAS Design of the Online Onboarding Special Savings Product for Creation of a Debtor Savings
Implementation (OLOB) Account Opening Process Subsidized/Non-Performing Debtors Program.
Impact: Improved RAS capabilities Impact: Facilitating debtors in Impact: Increase VoA and NoA of Impact: Changing debtor habits to
in sales, legal matters, and internal opening a BTN account through a savings accounts for subsidized/ increase savings balances with the
regulations. mobile device. non-performing debtors to goal of ensuring timely installment
facilitate installment payments. payments
Campaign for BTN Agents and QRIS Debtors Implementation
Mortgage Payment Channels.
Impact :Increasing payment
Impact: Facilitating debtors in features to facilitate debtors in
obtaining information related to making installment payments.
installment payments.
Other Financial Ratio
To measure the profitability and efficiency of the Company’s performance, financial ratios used by banking were Profit
before tax to Assets or Return On Assets (ROA), Profit after tax to Equity or Return On Equity (ROE), Net Interest Margin
(NIM) and the ratio of Operating Expenses to Operating Income (BOPO).
Table of Other Financial Ratio (in %)
Increase/
Description 2024 2023
Decrease
Return On Assets (ROA) 0.83 1.07 (0.24)
Return On Equity (ROE) 10.76 13.86 (3.1)
Net Interest Margin (NIM) 2.86 3.75 (0.89)
Operating Expenses to Operating Income (BOPO) 88.70 86.10 2.60
In 2024, the ROA, ROE, and NIM values were 0.83%, 10.76%, The BOPO value in 2024 was maintained at 88.7%, an
and 2.86% respectively, indicating a slight decrease increase from 86.10 in 2023. Although there was an
compared to 2023. This was mainly due to an increase increase in TPF interest expenses, Company could carry
in the percentage of cost of funds or BTN’s third-party out efficiency in overhead costs so that it maintained a
fund (TPF) interest expense amid tight banking liquidity stable BOPO ratio below 90%.
conditions.
PT Bank Tabungan Negara (Persero) Tbk 321
Page 324
Management Discussion
and Analysis on Bank Performance
Fund Interest Rate
Information on interest rates for bank deposits, savings and current accounts as of December 31, 2024 was as follows:
Table of Indonesia Rupiah Savings Interest Rates
Retail Interest Interest Rate
Product Type Balance Strata
Rates Lembaga
Tabungan Investa Up to IDR1 million 0.00% 0.00%
> IDR1 million - IDR100 million 1.00% 1.00%
> IDR100 million - IDR1 billion 2.40% 2.25%
> IDR1 billion - IDR2 billion 3.15% 3.05%
> IDR2 billion - IDR5 billion 3.40% 3.20%
Table of Indonesia Rupiah Savings Interest Rates
Product Type Balance Strata Interest Rate
Tabungan BTN Batara < IDR1 million 0.00%
≥ IDR1 million - ≤ IDR50 million 0.10%
> IDR50 million - ≤ IDR500 million 0.10%
> IDR500 million - ≤ IDR1 billion 0.50%
> IDR1 billion - ≤ IDR2 billion 1.00%
> IDR2 billion 1.00%
Tabungan BTN Bisnis < IDR1 million 0.00%
≥ IDR1 million - < IDR50 million 0.50%
≥ IDR50 million - < IDR500 million 1.00%
≥ IDR500 million - < IDR1 billion 1.25%
≥ IDR1 billion 1.75%
Tabungan BTN Junior ≤ IDR50 thousands 0.00%
> IDR50 thousands 0.50%
TabunganKu ≤ IDR500 thousands 0.00%
> IDR500 thousands - IDR1 million 0.10%
> IDR1 million 0.25%
322 PT Bank Tabungan Negara (Persero) Tbk
Page 325
Annual
Report 2024
Product Type Balance Strata Interest Rate
Tabungan SiMuda RumahKu ≤ IDR1 million - IDR10 million 1.00%
> IDR10 million - IDR25 million 1.15%
> IDR25 million - IDR50 million 1.25%
> IDR50 million - IDR100 million 1.35%
> IDR100 million - IDR250 million 1.50%
> IDR250 million 2.00%
Tabungan BTN Siap! < IDR1 million - IDR10 million 1.00%
> IDR10 million - IDR25 million 1.15%
> IDR25 million - IDR50 million 1.25%
> IDR50 million - IDR100 million 1.35%
> IDR100 million - IDR250 million 1.50%
> IDR250 million 2.00%
Tabungan BTN e’BataraPos < IDR1 million 0.00%
≥ IDR1 million - IDR50 million 0.10%
> IDR50 million - IDR500 million 0.10%
> IDR500 million - IDR1 billion 0.50%
> IDR1 billion 1.00%
Tabanas Batara Kantor Pos 0.00%
Table of Indonesia Rupiah Current Account Interest Rates
Product Type Balance Strata Interest Rate
IDR Current Account ≤ IDR10 million 0.00%
> IDR10 million - IDR100 million 0.25%
> IDR100 million - IDR500 million 0.75%
> IDR500 million 1.00%
PT Bank Tabungan Negara (Persero) Tbk 323
Page 326
Management Discussion
and Analysis on Bank Performance
Table of Indonesia Rupiah Time Deposit Interest Rates
Tenor (months)
Product
Balance Strata
Type
1 2 3 4 6 12 24
IDR Time < IDR1 million 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Deposit
≥IDR1 million - < IDR10 million 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00%
≥IDR10 million - < IDR100 million 2.25% 2.40% 2.65% 2.65% 2.90% 2.90% 2.90%
≥ IDR100 million - < IDR500 million 2.40% 2.40% 2.90% 2.90% 3.05% 3.05% 3.05%
≥ IDR500 million - ≤ IDR2 billion 2.40% 2.40% 2.90% 2.90% 3.05% 3.05% 3.05%
> IDR2 billion 2.40% 2.40% 2.90% 2.90% 3.05% 3.05% 3.05%
Table of Indonesia Rupiah e-Deposito Interest Rates
Tenor (months)
Product
Balance Strata
Type
1 2 3 4 6 12 24
IDR < IDR100 million 2.60% 2.75% 3.00% 3.00% 3.25% 3.25% 3.25%
e-Deposito
Ritail ≥ IDR100 million - < IDR500 million 2.65% 2.75% 3.25% 3.25% 3.40% 3.40% 3.40%
≥ IDR500 million - < IDR2 billion 4.25% 4.25% 4.40% 4.50% 4.65% 3.40% 3.40%
≥ IDR2 billion - < IDR5 billion 4.50% 4.50% 4.65% 4.80% 4.90% 3.40% 3.40%
≥ IDR5 billion - < IDR10 billion 4.60% 4.60% 4.80% 4.90% 5.00% 3.50% 3.50%
≥ IDR10 billion 4.70% 4.70% 5.00% 5.00% 5.00% 3.60% 3.60%
Table of Foreign Currency Savings Interest Rate
USD SGD AUD / CNY JPY
Product Type
Interest Balance Interest Balance Interest Balance Interest
Balance Strata
Rate Strata Rate Strata Rate Strata Rate
Tabungan BTN Felas < USD 1,000 0.00%
USD 1,000 - < USD 10,000 0.15%
All tiering 0.10% All tiering 0.05% All tiering 0.00%
USD 10,000 - < USD 100,000 0.35%
≥ USD 100,000 0.50%
Table of Foreign Currency Savings Interest Rate
USD
Product Type
Balance Strata Interest Rate
Tabungan BTN Felas USD via Mobile Banking < USD 1,000 0.00%
USD 1,000 - < USD 10,000 0.15%
USD 10,000 - < USD 100,000 0.35%
≥ USD 100,000 0.50%
324 PT Bank Tabungan Negara (Persero) Tbk
Page 327
Annual
Report 2024
Table of Foreign Currency Time Deposit Interest Rate
Tenor (months)
Product Type Balance Strata
1 3 4 6 12 24
Time Deposit USD All strata 0.20%
Time Deposit SGD All strata 0.10%
Time Deposit AUD/CNY All strata 0.10%
Time Deposit JPY All strata 0.00%
Table of Foreign Currency e-Deposit Interest Rate
Tenor (months)
Product Type Balance Strata
1 3 6 12 24
e-Deposito USD Ritel < USD100,000 1.00% 1.00% 1.00% 1.00% 1.00%
USD100,000 - < USD500,000 2.50% 2.50% 1.50% 1.50% 1.50%
USD500,000 - < USD1,000,000 2.50% 2.50% 2.00% 2.00% 2.00%
≥ USD1,000,000 2.50% 2.50% 2.25% 2.25% 2.25%
Table of Foreign Currency Current Account Interest Rate
Product Type Balance Strata Interest Rate
Giro Valas (USD) Up to USD100,000 0.00%
> USD100,000 0.10%
PT Bank Tabungan Negara (Persero) Tbk 325
Page 328
Management Discussion
and Analysis on Bank Performance
Prime Lending Rate
On a periodical basis, Company renews its Prime Lending premium which depends on Company’s assessment on
Rate (PLR/SBDK) in accordance with the benchmark each debtor or debtor group’s risk. Therefore, the lending
interest rate updates from Bank Indonesia. PLR becomes rate to be charged to debtors may not necessarily be
the basis for establishing the Bank’s lending rate to be the same as the PRL.
charged to Customer. PLR has not estimated the risk
Table of Prime Lending Rate Interest Rate
PRL per Business Segment
Description Non-MSME Loans MSME Loans
Non KPR/
KPR/KPA
KPA
Corporate Retail Medium Small Micro
Prime Lending Rate (PLR) 2024 8.76% 9.25% 10.17% 11.00% 14.03% 8.04% 11.80%
Prime Lending Rate (PLR) 2023 8.05% 8.30% n/a n/a n/a 7.30% 8.80%
Prime Lending Rate (PLR) 2022 8.00% 8.25% n/a n/a n/a 7.25% 8.75%
Prime Lending Rate (PLR) 2021 8.00% 8.25% n/a n/a n/a 7.25% 8.75%
Prime Lending Rate (PLR) 2020 9.90% 9.90% n/a n/a n/a 9.95% 11.25%
Productive Assets Quality Analysis
The assessment or provision of productive assets is aimed at providing funds in order to obtain income, whether in the
form of loan, securities, inter-bank placement of funds and other equivalent forms of providing funds.The position of
productive assets in the current category in 2024 was IDR448.59 trillion, an increase of 12.37% compared to 2023 which
was IDR399.22 trillion. Thus, Company has good quality productive assets. The following are Company’s productive
assets for the past two years.
Table of Productive Assets Quality (in IDR million)
2024
Description
Special Substandard
Current (L) Doubtful (D) Loss (M) Total
Mention(DPK) (KL)
Placement with other
5,950,058 - - - 1,749 5,951,807
banks
Spot and Derivative
102,843 - - - - 102,843
Receivables/Forward
Securities Owned 60,838,939 42,859 4,360 5,369 50,159 60,941,686
Securities Sold under
Repurchase Agreement 3,499,300 - - - - 3,499,300
(Repo)
326 PT Bank Tabungan Negara (Persero) Tbk
Page 329
Annual
Report 2024
2024
Description
Special Substandard
Current (L) Doubtful (D) Loss (M) Total
Mention(DPK) (KL)
Receivables from
Securities Purchased
175,625 - - - - 175,625
under Agreement to
Resell (Reverse Repo)
Acceptance receivable 941,898 - - - - 941,898
Loans and Financing 312,597,793 34,057,137 872,072 1,939,769 8,506,161 357,972,932
Capital Investment - - - - - -
Other Receivables - - - - - -
Commitments and
18,533,250 269,983 6,293 10,565 182,854 19,002,945
Contingencies
Foreclosed Collatera - - - - - 77,591
2023
Description
Special Substandard
Current (L) Doubtful (D) Loss (M) Total
Mention(DPK) (KL)
Placement with other
2,201,681 - - - 1,778 2,203,459
banks
Spot and Derivative
32,176 - - - - 32,176
Receivables/Forward
Securities Owned 41,093,303 50,696 4,644 5,769 45,390 41,199,802
Securities Sold under
Repurchase Agreement - - - - - -
(Repo)
Receivables from
Securities Purchased
- - - - - -
under Agreement to
Resell (Reverse Repo)
Acceptance receivable 544,567 - - - - 544,567
Loans and Financing 297,250,597 26,398,644 571,273 677,813 8,799,814 333,698,141
Capital Investment - - - - - -
Other Receivables - - - - - -
Commitments and
20,853,385 517,162 7,343 318 168,460 21,546,668
Contingencies
Foreclosed Collatera - - - - - 77,591
PT Bank Tabungan Negara (Persero) Tbk 327
Page 330
Management Discussion
and Analysis on Bank Performance
Table of Allowance for Impairment Losses and Allowance for Asset Quality Assessment (in IDR million)
2024
Post
Stage 1 Stage 2 Stage 3 General Specific
Placement with other banks 822 1,749 59,501 1,749
Spot and Derivative Receivables/
- 1,028 -
Forward
Securities Owned 787 63,607 55,591
Securities Sold under Repurchase
- - -
Agreement (Repo)
Receivables from Securities
Purchased under Agreement to - - - 1,756 -
Resell (Reverse Repo)
Acceptance receivable 1,987 - - 9,419 -
Loans and Financing 2,965,797 3,564,534 6,526,856 3,073,878 9,135,653
Capital Investment - - -
Other Receivables - - -
Commitments and Contingencies 3,385 57,246 13,500
2023
Post
Stage 1 Stage 2 Stage 3 General Specific
Placement with other banks 26 - 1,778 22,016 1,778
Spot and Derivative Receivables/
- - 322 -
Forward
Securities Owned 22,903 - - 46,978 51,507
Securities Sold under Repurchase
- - - - -
Agreement (Repo)
Receivables from Securities
Purchased under Agreement to - - - - -
Resell (Reverse Repo)
Acceptance receivable 1,447 22,429 - 5,446 -
Loans and Financing 2,441,079 3,407,511 9,743,374 2,942,958 9,698,086
Capital Investment - - - - -
Other Receivables - - - - -
Commitments and Contingencies 3,580 - - 25,993 25,858
Fee Based Income Growth Acceleration
To increase profitability, Company’s Business Plan was 1. Increasing fees from treasury and forex transactions.
focused on increasing Other Operating Income (POL) 2. Increasing fee-based income from credit business
which was mostly generated from fee-based income, (syndication, insurance kick-back, and credit
especially from new sources based on transactions and administration outside of subsidized mortgages).
services. To achieve this target, the strategic initiatives
carried out in the short and medium term are as follows:
328 PT Bank Tabungan Negara (Persero) Tbk
Page 331
Annual
Report 2024
3. Increasing fee-based income from digital Bank Capital Structure
transactions and wholesale banking by:
a. Accelerating the implementation of online Management Policy on Capital
acquiring features. Structure and Policy Determination
b. Accelerating the implementation of the Quick Basis
Response Code Indonesian Standard (QRIS)
Border and QRIS Customer Presented Mode. The Capital Plan formulated by Company refers to the
c. Developing Visa Paywave to increase retail latest economic development reviews, while also based
customer transactions and fee based. on the analysis and assessment of the required capital
4. Developing fee based from new sources through: adequacy. In formulating the Capital Plan as a part of
a. Development of e-Guarantee to increase fee Company’s Business Plan, the Board of Directors has
based in the wholesale Banking segment. received the approval from the Board of Commissioners.
b. Increasing fee-based priority banking services Bank Company regularly plans and reviews capital
through product development, including National requirements together with the data of the analysis. In
Securities (SBN), insurance products, and mutual planning, Company always links financial goals and
funds. capital adequacy to risks so that Company’s business is
c. Increasing fees sourced from Bank Guarantees in line with the capital and liquidity requirements.
(BG), Domestic Letters of Loans (SKBDN), Supply
Chain Financing (SCF), Cash Management The purpose of management’s policy on capital is
System (CMS) in the Corporate segment and to ensure that Company’s capital is strong and able
wholesale. to create a strong capital structure to support the
development strategy for current business expansion
and maintain the continuity of development going
Digital Transaction Volume Growth forward. In addition, the determination of the capital
policy is intended to meet the capital adequacy
To develop new sources of growth, Company provisions set by the regulator and ensure that
accelerated the development of digital services, Company’s capital structure has been efficient.
especially those targeting retail transactions through
the Balé by BTN acquisition and utilization program. Based on OJK Regulation Number 11/POJK.03/2016 as
With various programs run, the number of digital amended by OJK Regulation No. 27 of 2022 concerning
banking transactions increased rapidly to 1.32 billion the Second Amendment to OJK Regulation Number
transactions, or an increase of 172% yoy. In line with the 11/POJK.03/2016 concerning the Minimum Capital
increase in the number of transactions, the volume of Adequacy Requirement for Commercial Banks, BTN’s
digital service transactions also increased to IDR196 capital consists of:
trillion, or grew 51% yoy. To support the development 1. Core Capital, which consists of Common Equity
of digital transactions, Company carried out various Tier - CET1 and Additional Tier 1 (AT1). Core capital
digital innovations including the rebranding of the Bale includes paid-in capital and disclosed reserves.
by BTN Superapp and intensifying the acquisition of BTN Disclosed reserves consists of additional factors
merchants. In 2024, the number of BTN QRIS merchants (agio, general reserves, previous year’s profit, profit
increased rapidly to 125,082 QRIS merchants or an for the year and stock options) and the deducting
increase of 701% YoY with a total merchant balance factors (other comprehensive losses and financial
reaching IDR2.09 trillion. In addition, Company also asset transactions classified as available for sale,
expanded the BTN Properti application and portal as a difference of Allowance for Uncollectible Accounts
digital housing ecosystem. (PPA) on earning assets with Allowance for
Impairment Losses and nonearning PPA).
In 2024, the BTN Properti portal and application had 2. Supplementary Capital (Maximum 100% of Core
747 thousand members, 11,419 developers, and 1 million Capital) which consists of general reserves of PPA
housing stocks ready to become mortgages (KPR). for productive assets that must be calculated with a
Company innovated technologies, one of which was maximum amount of 1.25% of RWA for Credit Risk and
with BTN Open API and Sandbox. In 2024, the number Reserves
of partners integrated with BTN Open API reached 29
partners with a total of 5,499,401 hits.
PT Bank Tabungan Negara (Persero) Tbk 329
Page 332
Management Discussion
and Analysis on Bank Performance
The Company’s core capital (Tier I) in 2024 was IDR29.83 IDR2.43 trillion, lower than the supplementary capital in
trillion, higher than IDR27.15 trillion in 2023. Meanwhile, the 2023 which was IDR4.07 trillion.
Company’s supplementary capital (Tier II) in 2024 was
Capital Structure Details
Company has strong capital capabilities to support business growth. Below is the details of Company’s capital
structure.
Table of Capital Structure Details (in IDR million)
Increase/Decrease
Description 2024 2023
Nominal Percentage
I. CORE CAPITAL (TIER 1) 29,834,471 27,154,078 2,680,393 9.87%
1. Common Equity Tier - CET 1 29,834,471 27,154,078 2,680,393 9.87%
1.1 Paid-up Capital (minus Treasury Stock) 7,017,222 7,017,222 - -
1.2 Disclosed Reserves 25,103,287 23,135,138 1,968,149 8.51%
1.3 Calculable Non-Controlling Interest - - - -
1.4 Common Equity Tier 1 Regulatory Adjustment (2,286,038) (2,998,282) 712,244 23.76%
2. Additional Tier - AT 1 - - - -
2.1 Instruments meeting AT-1 requirements - - - -
2.2 Agio/Disagio - - - -
2.3 Additional Tier 1 Regulatory Adjustment - - - -
II. SUPPLEMENTARY CAPITAL (TIER 2) 2,438,559 4,076,204 (1,637,645) (40.18%)
1. Capital instruments in shares or others meeting Tier
549,605 2,367,557 (1,817,952) (76.79%)
2 requirements
2. Agio/Disagio - - - -
3. General reserves of mandatory productive asset
Allowance for Uncollectible Accounts (max. 1.25% of 1,888,954 1,708,647 180,307 10.55%
Credit Risk RWA)
4. Supplementary Capital Regulatory Adjustment - - - -
TOTAL CAPITAL 32,273,030 31,230,282 438,059 1.40%
RISK-WEIGHTED ASSETS (RWA)
RWA for Credit Risk 149,287,750 136,691,761 12,595,989 9.21%
RWA for Operational Risk 19,055,594 17,956,060 1,099,534 6.12%
RWA for Market Risk 6,101,634 942,326 5,159,308 547.51%
Total RWA 174,444,978 155,590,147 18,854,831 12.12%
Capital Adequacy Ratio (CAR) according to Risk Profile 9.25% 9.18%
Common Equity Tier 1 (CET 1) 17.10% 17.45%
Tier 1 Ratio 17.10% 17.45%
Tier 2 Ratio 1.40% 2.62%
Capital Adequacy Ratio (CAR) 18.50% 20.07%
330 PT Bank Tabungan Negara (Persero) Tbk
Page 333
Annual
Report 2024
Material Commitments for Capital Investment
In 2024 and 2023, Company made material commitments with related parties for capital investments. Some material
commitments with significant values are presented in the following table:
Table of Material Commitments for Capital Investment
Commitment
Name of Parties under
Type of Commitment Value (in IDR
Commitments
million)
2024
Contractor Services for the Renovation Work of Jakarta Kuningan branch
PT Binayasa Putrabatara 18,000
office and Jakarta II Regional Office in BTN Tower 2.
Contractor Services for the Renovation of Conventional Banking Hall,
PT Binayasa Putrabatara Private Banking, SDB Room, and Main Document Room for Designation of 22,700
Jakarta Kuningan branch office in BTN Tower 2.
Contractor Services for the Construction Work of BTN Pematangsiantar
PT Binayasa Putrabatara 42,300
branch office Building.
Contractor Services for the Construction of Learning Center in Ciburial
PT Brantas Abipraya 100,500
Land, Dago Pakar, Bandung (Phase 1).
PT Brantas Abipraya Contractor Services for the Construction of BTN Kebon Jeruk branch office. 121,500
PT Casa Prima Indonesia Contractor Services for the Renovation Work of KCS Lhokseumawe. 10,500
Contractor Services for the Relayout Renovation Work of Banjarmasin
PT Casa Prima Indonesia 11,100
branch office.
Contractor Services for the Renovation Work of Tanjung Pinang branch
PT Casa Prima Indonesia 13,280
office.
PT Casa Prima Indonesia Contractor Services for the Renovation Work of KCS Surabaya. 13,700
Contractor Services for the Construction Work of Meruya Official
PT Casa Prima Indonesia 20,300
Residence.
Contractor Services for the Construction Work of Record Center Building,
PT Casa Prima Indonesia 41,150
KCP, and Official Residence in Soekarno Hatta Land, Bandung.
Contractor Services for BTN Building Construction Works, Kupang Branch
PT Casa Prima Indonesia 47,550
Office.
Contractor Services for Non-Banking Hall Area Renovation Works, Jakarta
PT Grafindo Triutama 10,010
Harmoni Branch Office.
PT Integra Dayacipta Grahatama Contractor Services for the Construction Works of Regional Office I. 53,500
Contractor Services for BTN Building Construction Works, Cibubur Branch
PT Neocelindo Intibeton 47,280
Office.
PT Neocelindo Intibeton Contractor Services for the Construction Works of Regional Office 6. 61,500
Contractor Services for BTN Building Construction Works, Kelapa Gading
PT Nindya Karya 132,001
Square Branch Office.
Contractor Services for the Construction Works of BTN Eco Park Gandul
PT Pembangunan Perumahan 322,899
(Phase 1).
Contractor Services for Meeting Room Works, 30th and 32nd Floors, BTN
PT Usaha Gedung Mandiri 11,785
Tower 2.
PT Victory Utama Karya Contractor Services for Renovation Works, BTN Tower 2 Division Workspace. 26,930
Procurement of x86 Servers for Conventional and Sharia Internet Banking
PT Metrocom Global Solusi 10,940
and Cash Management Systems.
PT Multipolar Technology Tbk. Procurement of Desktop and Notebook PC Devices 2024. 43,243
Procurement of Security Intelligence Platform to detect potential cyber
PT Praweda Ciptakarsa
attacks, detect data and user credential breaches, and improve response 41,272
Informatika
to security incidents.
PT Bank Tabungan Negara (Persero) Tbk 331
Page 334
Management Discussion
and Analysis on Bank Performance
Commitment
Name of Parties under
Type of Commitment Value (in IDR
Commitments
million)
PT IDX Consulting Procurement of Fraud Detection System (FDS) Applications. 30,878
Procurement of Web Application Firewall (WAF), DNS Security, and Loan
PT Mastersystem Infotama 13,470
Balancer (HA Critical Application Firewall) Devices.
PT Metrocom Global Solusi Procurement of Database Server for Internet Banking and CMS. 19,980
PT Truslogic Mitra Teknologi Procurement of Security Tools on DevSecOps Toolchain. 12,165
PT Multipolar Technology Tbk Procurement of Data Lake Development. 11,751
PT Intikom Berlian Mustika Modernization of Branch Delivery System. 89,995
Procurement of HA Authentication, Authorization, Auditrail and Network
PT Multipolar Technology Tbk 28,600
Access Control (NAC) Solutions for BTN Head Office and Branch Offices.
Procurement of Pinpad Machine Modernization equipped with IKD and
PT Indonesia Comnets Plus 30,000
eKTP Reader.
2023
Procurement of Contractor Services for the Renovation Work of BTN Tanah
PT Binayasa Putra Batara 30,500
Abang Education and Training Center Building.
Procurement of Contractor Services for the Development Work of Cirebon
PT Binayasa Putra Batara 39,100
Branch Office.
Procurement of Contractor Services for the Renovation Work and Relayout
PT Neocelindo Intibeton 29,800
of All Floors of Bekasi Branch Office Building.
Procurement of Contractor Services for the Renovation Work on the 23rd
PT Binayasa Putra Batara 15,550
Floor of BTN Tower.
Procurement of Contractor Services for Basement Renovation Work of
PT Binayasa Putra Batara 12,475
Tanah Abang Education and Training Center Building.
Procurement of Contractor Services for the Renovation Work of Interior
PT Binayasa Putra Batara 26,900
Lobby and Landscape of the Entire BTN Tower.
Procurement of Oracle License Software Extension for E2E Procurement
PT Metrocom Global Solusi 37,000
Applications and Custodian Applications.
Order for the Use of Middleware Umbrella Contract Mandays 2023-2025
PT Hanoman Cendekia Interaktif 12,712
for Sharia Virtual and Corporate Card Off Us Middleware side.
PT Mitra Integrasi Informatika Procurement of Master Data Management Development. 15,984
Company makes material commitments for investment in other inventory. Until 2024, the amount of capital goods
goods and capital with the aim of supporting Company’s investment was IDR13.23 trillion. This amount increased
operational activities. The source of funds used by Bank compared to 2023 due to the purchase of land for offices,
Company in carrying out material commitments comes construction and renovation of office buildings, vehicles,
from Company’s internal funds. Because the currency and various office equipment to support Company‘s
used for investment in capital goods is IDR and the operations.
procurement value stated in the cooperation agreement
between Company and Providers is also set in Rupiah, In 2024, Company made capital goods investments
there is no need for planned steps to protect risks from mostly in the form of building construction for the
foreign currency positions. Learning Center, BTN Eco Park, Regional Offices, and
Branch Offices. In addition, renovation work was also
carried out on office buildings, including renovations to
Capital Investment the workspace of the BTN Tower 2 building. For capital
goods investments in computer hardware, Company
BTN invested in capital goods in the form of land, centralized personnel procurement.
buildings/office, other buildings, computer hardware,
machinery, vehicles, office equipment, fixed assets and
332 PT Bank Tabungan Negara (Persero) Tbk
Page 335
Annual
Report 2024
Table of Capital Goods Investment (in IDR million)
Investment Value
Type Investment Purpose
2024 2023
Land Bank Business Operations 5,367,787 4,548,181
Office Buildings/Rooms Bank Business Operations 2,622,305 1,860,085
Other Buildings Bank Business Operations 551,074 1,404,960
Computer Hardware Bank Business Operations 3,471,025 3,050,055
Machineries Bank Business Operations 473,383 504,278
Vehicles Bank Business Operations 50,428 49,298
Office Supplies Bank Business Operations 655,769 689,774
Fixed Assets and Other Inventories Bank Business Operations 40,280 47,973
Total 13,232,051 12,154,605
Company through the Procurement and Fixed Asset g. On December 30, 2024, the purchase of land for
Management Division (PFAD) in 2024 procured and the expansion of the Mojokerto Branch Office
managed fixed assets as follows: building worth IDR5,126 million located at Jalan
1. Collaborating with the Sales and Distribution Re Basuni No. 580 Mojokerto.
Division (SDD) as the office network manager in h. On December 30, 2024, the purchase of land
implementing the procurement/purchase of land for for the Parepare Branch Office building worth
office buildings, namely: IDR6,960 million located on Jalan H. Agus Salim/
a. On February 29, 2024, the purchase of land for the Siliwangi, Parepare City.
expansion of the Panakukang Branch Office (KC) i. On December 30, 2024, the purchase of land
building worth IDR13,580 million located on Jalan for the Magelang Branch Office building worth
Hertasning, Makassar, South Sulawesi Province. IDR36,692 million located on Jalan Jendral
b. On August 19, 2024, the purchase of land for Sudirman, Magelang City.
the Cikembar Branch Office building, Sukabumi 2. The implementation of ground breaking as the start
worth IDR3,176 million, located on Jalan Sampora, of construction work for the construction of Company
Bojongraharja Village, Cikembar District, operational buildings, including:
Sukabumi Regency, West Java Province. a. On January 25, 2024, the groundbreaking for
c. On August 19, 2024, the purchase of land for the the construction of the Pematang Siantar
planned Jababeka Branch Office building worth Branch Office building was carried out with a
IDR39,366 million located at Jalan Dr. Satrio No. construction project value of IDR42,300 million.
C2, Simpangan Village, North Cikarang District, b. On March 8, 2024, the groundbreaking for the
Bekasi Regency, West Java Province. construction of the Cibubur Branch Office
d. On December 30, 2024, the purchase of land for building was carried out with a construction
the East Bandung Branch Office building worth project value of IDR47,280 million.
IDR24,638 million located on Jalan Boulevard c. On July 5, 2024, the groundbreaking for the
Raya, Ruko Sapphire Summarecon Bandung. construction of the Kupang Branch Office building
e. On December 30, 2024, the purchase of land was carried out with a construction project value
for the Pangkal Pinang Branch Office building of IDR47,550 million.
worth IDR5,969 million located at Jalan Jendral d. On October 17, 2024, the groundbreaking for
Sudirman No. 69 Pangkal Pinang. the construction of the Dago Learning Center
f. On December 30, 2024, the purchase of land for building, Bandung (Phase 1) was carried out with
the Tegal Branch Office building worth IDR12,622 a construction project value of IDR100,500 million.
million located at Jalan Gajah Mada No. 112 Tegal.
PT Bank Tabungan Negara (Persero) Tbk 333
Page 336
Management Discussion
and Analysis on Bank Performance
e. On October 18, 2024, the groundbreaking for 3. On November 11, 2024, the BTN Education and Training
the construction of the BTN Eco Park Gandul Center building located at Jalan KH. Mas Mansyur
building, Depok (Phase 1) was carried out with a No. 86 Tanah Abang, Central Jakarta, was converted
construction project value of IDR322,899 million. into a Sharia Business Unit (UUS) Office.
f. On November 28, 2024, the groundbreaking 4. In managing fixed assets, Company implemented
for the construction of the Jakarta Kebon Jeruk fixed asset write-offs for fixed assets that technically
Branch Office building was carried out with a and economically no longer had any benefits for
construction project value of IDR121,500 million. Company. With the implementation of the write-offs,
g. On November 28, 2024, the groundbreaking for the Company could optimize and be more efficient in
construction of the Kelapa Gading Square Branch the use of inventory storage/warehouse space, as
Office building was carried out with a construction well as the reconciliation of fixed asset databases to
project value of IDR132,001 million. be cleaner and clearer.
h. On November 28, 2024, the groundbreaking for the
construction of the planned Pondok Indah Branch
Office building was carried out.
Commitments and Contingencies
The balances of Commitments and Contingencies as of December 31, 2024 and 2023 were as follows:
Table of Commitments and Contingencies (in IDR million)
Description 2024 2023
COMMITMENTS
Commitments Payable
Unused loan facility commitments 15,614,895 18,933,652
Irrevocable L/C on progres 249,694 20,106
Commitments – Net 15,864,589 18,953,758
CONTINGENCIES
Contingent receivables
Interest income on non-performing assets 3,550,319 3,598,041
Contingent payables
Guarantees issued (3,124,003) (2,579,175)
Contingencies - Net 426,316 1,018,866
Significant Agreements
Throughout 2024 and 2023, Company made significant 2. On November 20, 2024, the Bank signed an agreement
agreements including: with PT Brantas Abipraya regarding the Contractor
1. On December 12, 2024, the Bank signed an agreement Services for the Construction of Kebon Jeruk branch
with PT Nindya Karya regarding the Contractor office with a contract value of IDR121,500 million.
Services for the Construction of the Bank BTN Kelapa 3. On November 5, 2024, the Bank signed an agreement
Gading Square branch office Building with a contract with PT Pembangunan Perumahan regarding the
value of IDR132,001 million. Contractor Services for the BTN Eco Park Gandul
Development Works (Phase 1) with a contract value
of IDR322,899 million.
334 PT Bank Tabungan Negara (Persero) Tbk
Page 337
Annual
Report 2024
4. On October 29, 2024, the Bank signed an agreement 15. On May 2, 2024, the Bank signed an agreement with
with PT Binayasa Putrabatara regarding the PT Integra Dayacipta Grahatama regarding the
Contractor Services for the Renovation Work of BTN Contractor Services for the Construction of Regional
Kuningan Tower 2 with a contract value of IDR22,700 Office I with a contract value of IDR53,500 million.
million. 16. On February 20, 2024, the Bank signed an agreement
5. On October 28, 2024, the Bank signed an agreement with PT Neocelindo Intibeton regarding Contractor
with PT Casa Prima Indonesia regarding the Services for the Construction Work of BTN Cibubur
Contractor Services of Tanjungpinang Branch Office branch office Building with a contract value of
Renovation with a contract value of IDR13,280 million. IDR47,280 million.
6. On October 14, 2024, the Bank signed an agreement 17. On January 12, 2024, the Bank signed an agreement
with PT Brantas Abipraya regarding the Contractor with PT Casa Prima Indonesia regarding Contractor
Services for the Construction of the Bandung Services for the Construction of the Record Center
Learning Center (Phase 1) with a contract value of Building, KCP, and Official Residence on the Soekarno
IDR100,500 million. Hatta Land in Bandung with a contract value of
7. On October 2, 2024, the Bank signed an agreement IDR41,150 million.
with PT Casa Prima Indonesia regarding the 18. On January 11, 2024, the Bank signed an agreement
Surabaya Branch Office Renovation Contractor with PT Binayasa Putrabatara regarding the
Services with a contract value of IDR13,700 million. Contractor Services for the Construction of BTN
8. On July 26, 2024, the Bank signed an agreement with Pematangsiantar branch office building with a
PT Casa Prima Indonesia regarding the Contractor contract value of IDR42,300 million.
Services for the Banjarmasin Branch Office Relayout 19. On January 10, 2024, the Bank signed an agreement
Renovation Work with a contract value of IDR11,100 with PT Binayasa Putrabatara regarding the
million. Centralization of Building Management Procurement
9. On July 8, 2024, the Bank signed an agreement with for Regional Office VI with a contract value of
PT Patroon Arsindo regarding the Consultant Services IDR56,850 million.
for Planning Detail Engineering Design (DED), RAB, BQ 20. On January 10, 2024, the Bank signed an agreement
and RKS for Phase 1 Development of BTN Eco Park with PT Binayasa Putrabatara regarding the
Gandul with a contract value of IDR17,700 million. Centralization of Building Management Procurement
10. On June 24, 2024, the Bank signed an agreement with for Regional Office IV with a contract value of
PT Victory Utama Karya regarding the Contractor IDR91,500 million.
Services for the Renovation Work of BTN Tower 2 21. On January 10, 2024, the Bank signed an agreement
Division with a contract value of IDR26,930 million. with PT Binayasa Putrabatara regarding the
11. On June 24, 2024, the Bank signed an agreement with Centralization of Building Management Procurement
PT Binayasa Putrabatara regarding the Contractor for Regional Office I with a contract value of IDR176,246
Services for the Renovation Work of the Jakarta million.
Kuningan Branch Office and Regional Office jakarta 22. On December 19, 2023, Bank signed an agreement
II at BTN Tower 2 with a contract value of IDR18,000 with PT Multipolar Technology Tbk in relation to
million. reprocurement of PC Desktop and Notebook with
12. On May 31, 2024, the Bank signed an agreement with Seat Management Scheme with contract value of
PT Casa Prima Indonesia regarding the Contractor IDR115,980 million.
Services for the Construction Work of the BTN Kupang 23. On December 4, 2023, Bank signed an agreement
branch office Building with a contract value of with PT Sinergy Information Pratama in relation to
IDR47,550 million. procurement of Cash Recycle Machine (CRM) 2023
13. On May 23, 2024, the Bank signed an agreement with with contract value of IDR133,863 million
PT Usaha Gedung Mandiri regarding the Contractor 24. On July 11, 2023, Bank signed an agreement with PT
Services for Meeting Room Work on 30th and 32nd Berkat Manunggal Energi regarding the procurement
Floors of BTN Tower 2 with a contract value of IDR11,785 of generator replacement for the BTN Tower Building
million. with a contract value of IDR13,986 million.
14. On May 14, 2024, the Bank signed an agreement with 25. On March 15, 2023, Bank signed an agreement with
PT Casa Prima Indonesia regarding the Contractor PT Telekomunikasi Indonesia in connection with
Services for the Renovation Work of Lhokseumawe the procurement of a third year Sentul Data Center
branch office with a contract value of IDR10,500 collocation lease with a contract value of IDR10,638
million. million.
PT Bank Tabungan Negara (Persero) Tbk 335
Page 338
Management Discussion
and Analysis on Bank Performance
26. On February 20, 2023, Bank signed an agreement Material Information and Facts After
with PT Trees Solutions in connection with the re- Accounting Report Date
procurement of Integrated End to End Procurement
with a contract value of IDR30,669 million. Until the end of the preparation of the Annual Report,
27. On February 8, 2023, Bank signed an agreement there were no significant events after the accountant’s
with PT Multipolar Technology in connection with the report date, including their impact on future performance
procurement of network equipment upgrades and and business risks.
standardization of BTN Tower LAN with a contract
value of IDR39,575 million.
28. On February 3, 2023, Bank signed an agreement with Business Prospects and Future
PT Binayasa Putra Batara in relation to contractor Strategies
services of construction for the Bank BTN KC Cirebon
Building with contract value of IDR39,100 million. The International Monetary Fund (IMF) projects global
29. On January 6, 2023, Bank signed an agreement with economic growth of 3.3% in 2025, with developing
PT Binayasa Putra Batara in relation to contractor economies like Indonesia expected to continue growing
services of renovation for the BTN Tanah Abang beyond their 2024 performance. Advanced economies,
Pusdiklat Building with contract value of IDR30,500 such as the United States, are projected to experience
million. slower growth than in 2024, while China’s economy is
expected to decelerate in 2025.
Graph of Global Economic Growth Projections for 2025 and 2026
2024E 2025F 2026F
6.5%
6.5%
6.5%
7.0%
6.0%
5.0%
5.0%
5.1%
5.1%
4.8%
4.7%
4.6%
4.5%
5.0%
4.4%
4.3%
4.2%
4.2%
4.0%
3.3%
3.3%
3.2%
2.8%
2.7%
3.0%
2.1%
1.9%
1.8%
1.7%
2.0%
1.4%
1.1%
1.0%
0.8%
0.8%
1.0%
0.0%
-0.2%
-1.0%
India Indonesia Malaysia China Emerging Global Amerika Advanced Uni Eropa Jepang
Market Serikat Economics
Source: World Economic Outlook, International Monetary Fund (IMF), January 2025
National economic growth remained positive in 2024 (yoy). To achieve this level of inflation, the government
despite the global economic slowdown, driven by strong and Bank Indonesia will implement a mix of fiscal,
household consumption, incoming investment, and monetary, and real sector policies. Meanwhile, the
stable export performance. Bank Indonesia predicts average exchange rate of the rupiah against the US dollar
that economic growth in 2025 will remain strong and is projected to remain stable in 2025, while considering
positive, within a range of 4.8%-5.6%. uncertainties in global geopolitical dynamics. Bank
Indonesia’s benchmark interest rate was maintained at
The inflation in 2025 is expected to remain within Bank 6.00% at the end of 2024, with its decline expected to be
Indonesia’s target range of 2.5%+_ 1% year-on-year more gradual in 2025.
336 PT Bank Tabungan Negara (Persero) Tbk
Page 339
Annual
Report 2024
The financial services sector, particularly banking, is 6. The abolition of several housing-related taxes,
expected to maintain its performance and strengthen including the Land and Building Rights Acquisition
compared to 2024. Bank Indonesia projects that in 2025, Fee (BPHTB) and the Building Approval (PBG).
Third-Funds (DPK) will grow within a range of 8.0%- 10.0%,
while bank lending is expected to grow by 11.0%- 13.0%. To achieve the Three Million Housing target, collaboration
among all stakeholders is essential, including the Central
For 2025, the housing sector is predicted to strengthen and Regional Governments, Associations, Developers,
compared to previous years. The sector has the potential Banks, and the Community. This collaboration is needed
to grow above 2% and reduce the housing backlog, to address challenges such as land availability, licensing,
driven by several factors, including: bureaucracy, and public purchasing power.
1. The Three Million Housing Program, which is one of
Source:
President Prabowo Subianto’s priorities. - World Economic Outlook, International Monetary Fund (IMF), January
2. The establishment of a dedicated ministry for public 2025
- Bank Indonesia Annual Meeting (PTBI), November 2024
housing, the Ministry of Housing and Settlement - Banking and Property Outlook 2025, Real Estate Indonesia (REI),
December 2024
Areas (PKP).
3. A large FLPP quota in 2025, increasing to 220,000
units. Considering developments in macroeconomic
4. Government-borne VAT (DPT) incentives, extended dynamics, the banking industry and the housing
at 100% until June 2025 and 50% until December industry, Company conducted a competitive analysis
2025. through Strength, Weakness, Opportunity, Threat (SWOT)
5. The Loan-to-Value (LVT) policy for property is analysis as follows:
extended until the end of 2025.
• As a Government partner in housing • Dependence on high-cost Third Party
inclusion Funds
• Strong positioning in the housing • Has a high operating cost ratio
ecosystem
hs Wea compared to peers
• Have a wide network (+/- 700 KC and
gt kn • Most savings accounts are dormant or
KCP) have low balances
n
es
• Strong positioning in the Sharia • Mobile banking users who are active
Stre
business customers are still not maximized
ses
• BTN has brand awareness as a KPR • Payroll account penetration is low
distributing bank • Non-subsidized mortgage growth is
• BTN has comprehensive features lower than competitors
related to the housing ecosystem in • BTN’s credit disbursement SLA is slower
BTN Mobile than competitor banks
S W
T O
• Potential mortgage growth in line with
• Increase in the reference interest rate
the government’s 3 million housing unit
(BI rate)
program
• The development of fintech which
• Potential growth in the D2C (secondary
OPPO
has the potential to become a new
market) segment that provides higher
competitor in financing
yields
• Tight competition in competing for
TS
• Partnership opportunities in the
mortgage debtors
multifinance and insurance sectors
RT
UN
EA
• Decrease in margin due to high bank
ITIES R • Inorganic growth in the multifinance
TH
interest rates compared to KBMI 4
sector
banks
• Increasing digital interaction in the
• Global or national economic
banking system
uncertainty can affect demand for
• Growth in the Consumer and SME
mortgages
segments in Indonesia
PT Bank Tabungan Negara (Persero) Tbk 337
Page 340
Management Discussion
and Analysis on Bank Performance
Taking into account the SWOT analysis, the Threat Opportunity Weakness Strength (TOWS) matrix was prepared as follows:
Strength Strategy
Strengths-Opportunities (SO-Strategy) Strengths-Threats (ST-Strategy)
• Utilizing the increasing transaction frequency • Leverage experience in annual short-term
in BTN Mobile to take advantage of digital initiatives to accelerate loan disbursement SLAs.
interaction opportunities. • Maintain Subsidized Mortgage market share by
• Optimizing credit process improvements to improving the quality of existing loan portfolios.
capture secondary market opportunities (D2C) Increase CASA ratio to offset high interest
with higher yields. expense and declining margins.
• Expansion into the multifinance sector with the
Maximize Opportunity
support of digital transformation that has been
carried out.
• Potential for KPR Distribution to support the
Minimize Risk
Government’s 3 million housing unit program.
• Cross-selling to existing customers for funding,
lending, and banking transaction products.
Weaknesses-Opportunities Weaknesses-Threats
• Increase payroll account penetration to support • Reduce dependence on high-cost third-party
low-cost DPK growth opportunities. funds by increasing payroll account penetration.
• Increase active mobile banking customers • Increase mobile banking and non-subsidized
to capture opportunities for using digital mortgage customer penetration to avoid
interactions. takeover by competitors.
• Optimize dormant accounts and low-balance • Increase non-subsidized mortgage growth
accounts to support new sales model to prevent further loss of market shore. By
opportunities. using this TOWS matrix, BTN can identify
strategies that can help leverage strengths and
opportunities, while addressing weaknesses and
avoiding threats.
Recovery Strategy
Based on the matters outlined above, Company believes transformation roadmap, Company has set a vision to
it has outstanding business prospects in the future. become the Primary Partner in Empowering Indonesian
To enhance its contribution to the housing sector and families Financially by 2025. The aspirations to be
support the State-Owned Enterprise (BUMN) Ministry’s achieved by 2029 are as follows:
Build a sustainable savings account engine to capture IDR120 Trillion
Capturing 3% of SA from top 20 largest provinces, launching innovative propositions for value-chain payroll, first-time home
buyers and cash-rich self- employed professionals, and becoming transactional bank for customers and businesses through
enhanced transaction banking capabilities
Empower Indonesia families in disbursement enabling their dream of home
ownership with IDR450 Trillion in disbursement
Supporting -1.2mn subsidized mortgage and ~290k non-subsidized mortgage customers; empowering ~27k housing related SMEs
through propositions across the life-cycle
Become a financial partner for consumers and businesses providing full suite of
everyday banking solutions
Increasing consumer product ownership through high-margin loans (targeting 8% of loan portfolio), investment and payment
solutions; expanding non-housing loan portion (targeting 20% of loan portfolio) and increasing FBI (~20% of revenue); and
increasing conversion of new mortgage customers to full banking service users (mostly as primary bank).
Building a high-quality portfolio with operational efficiency
Building digital and efficient operations (CIR <50%) and strengthened customer service culture across the bank; Maintaining low
NPL (<2.3%) rate across economic cycles powered by advanced-Al driven underwriting and collections process
Expand offerings through 3 subsidiaries
Becoming true #2 Syariah banking contender in Indonesia; launching and scaling multi-finance (>2.5 Trillion loan
disbursement) and insurance subsidiaries (>2 Trillion GWP) to have full-suite of banking offerings
338 PT Bank Tabungan Negara (Persero) Tbk
Page 341
Annual
Report 2024
Achievement of Targets and Future Targets
Target Achievement 2024
Comparison of Production/Operational Targets and Realization
Several indicators of operational target achievement may be demonstrated by the achievement of some targets,
namely lending and financing targets and Third Party Funds (DPK) collection targets.
Table of Comparison of Production/Operational Targets and Realization (in IDR million)
Description 2024 Realization 2024 Target Achievement
1 2 3 4=2/3
LOANS AND FINANCING
Housing Loan 262,373,101 265,980,355 98.64%
Non Housing Loan 51,707,004 59,069,587 87.54%
Total Loans 314,080,105 325,049,941 96.63%
Total Financing 43,892,827 42,084,264 104.30%
Total Loans and Financing 357,972,932 367,134,206 97.50%
THIRD PARTY FUND
Current Account 160,847,953 153,169,290 105.01%
Savings 45,509,861 50,287,070 90.50%
Time Deposit 175,309,187 176,091,568 99.56%
Total Third Party Fund 381,667,001 379,547,928 100.56%
Housing loans in 2024 amounted to IDR262.37 trillion, target, driven by growth in the wholesale, commercial,
achieving 98.64% of the 2024 target. However, the corporate, and institutional segments.
disbursed credit and financing did not fully meet the
set target, aligning with the bank’s business strategy Deposits in 2024 amounted to IDR175.30 trillion, reaching
to maintain liquidity levels and adjust for the projected 99.56% of the 2024 target. Meanwhile, savings totaled
BI7DRRR rate changes in 2025. IDR45.50 trillion, achieving 90.50% of the year-end target.
This was due to Company’s strategy of shifting from
Third-party funds in 2024 reached IDR381.67 trillion, high-cost funds to low-cost funds, helping to control the
exceeding the target at 100.56%. This achievement was cost of funds amid tight banking liquidity conditions and
supported by the current account performance, which high interest rates.
reached IDR160.85 trillion, achieving 105.01% of the 2024
Comparison of Financial Targets and Realization
Financial achievement can be seen from the achievement of financial position, financial ratios, income and profit.
Table of Comparison of Financial Targets and Realization (in IDR million)
Description 2024 Realization 2024 Target Achievement
1 2 3 4=2/3
FINANCIAL POSITION
Asset 469,614,502 471,791,918 99.54%
Liabilities 437,042,613 439,298,860 99.49%
Equity 32,571,889 32,493,860 100.24%
PT Bank Tabungan Negara (Persero) Tbk 339
Page 342
Management Discussion
and Analysis on Bank Performance
Description 2024 Realization 2024 Target Achievement
1 2 3 4=2/3
INCOME AND PROFIT
Interest Income 29,541,592 31,331,379 94.29%
Income from operations 3,824,713 4,493,821 85.11%
Net Income 3,007,328 3,526,923 85.27%
FINANCIAL RATIO
CAR 18.50% 18.86% 98.09%
NPL 3.16% 2.95% 93.22%
ROA 0.83% 0.97% 85.57%
ROE 10.76% 13.09% 82.20%
NIM 2.86% 3.56% 80.34%
Assets in 2024 amounted to IDR469.61 trillion, achieving From a financial ratio perspective, the Capital Adequacy
99.54% of the target. Similarly, interest income reached Ratio (CAR) in 2024 was maintained at 18.50%, achieving
94.29% of the target, while net profit achieved 85.27%. This 98.09% of the target. This was supported by Company’s
was influenced by the high banking interest expenses, ability to manage its securities portfolio and various
as the BI rate remained in the range of 6.00%–6.25% business process improvement initiatives. The Non-
throughout 2024. Performing Loan (NPL) ratio in 2024 stood at 3.16%,
maintained through business process improvements,
Equity in 2024 reached IDR32.57 trillion, achieving such as the implementation of the Commercial Banking
100.24% of the target. Equity remained stable and Center (CBC) and the Regional Loan Processing Center
successfully exceeded the 2024 target, supported by (RLPC), which enhanced credit prudence, along with
the strengthening of a more robust business ecosystem. periodic asset sales. In 2024, the Return on Assets (ROA)
was 0.83%, the Return on Equity (ROE) was 10.76%, and
the Net Interest Margin (NIM) was 2.86%.
Comparison of Target and Realization of Capital Structure
Achievement of the capital structure in 2024 is described as follows.
Table of Comparison of Targets and Realization of Capital Structure (in IDR million)
Description 2024 Realization 2024 Target Achievement
1 2 3 4=2/3
Core Capital (Tier 1) 29,834,471 25,001,848 116.91%
Main Core Capital (Common Equity Tier - CET 1) 29,834,471 25,001,848 116.91%
Additional Core Capital (Additional Tier - AT 1) - - -
Supplementary Capital (Tier 2) 2,438,559 5,392,757 45.22%
Total Capital 32,273,030 30,394,605 106.18%
Risk Weighted Assets (RWA) 174,444,978 161,156,637 91.75%
Minimum Capital Adequeacy Requirement (KPMM) 18.50% 18.86% 96.26%
In 2024, Core Capital (Tier 1) reached IDR29.83 trillion, 45.22% of the target. In the future, Company will continue
achieving 116.91% of the target. Meanwhile, Supplementary to maintain an optimal Tier 1 Capital composition to
Capital (Tier 2) was realized at IDR2.43 trillion, reaching support the expansion of its business capacity.
340 PT Bank Tabungan Negara (Persero) Tbk
Page 343
Annual
Report 2024
Comparison of Marketing Target and Realization
The public’s brand awareness (the level of bank respondents in 9 (nine) large cities in Indonesia by
awareness) of the Company’s brand was an indicator an independent survey institution, with consideration
of marketing strategy achievement in 2024. The method of the bank’s image bankwide, savings products and
used to obtain the public perception index ranking of e-channels, resulted in the following:
the Company’s brand was through direct surveys of
Table of Bank Rapid Reaction Monitor (BRRM) – 9 (nine) Cities
Rating (Score)
Awareness Levels
2024 (Q4) 2023 (Q4)
Bankwide 6 (39) 6 (36)
Savings 5 (21) 5 (19)
E-Channel (Mobile Banking) 6 (16) 7 (11)
Based on the results of the study, it can be concluded that the Company’s brand has experienced an increase in
awareness ranking both bankwide and for Savings products and e-channels (BTN Mobile).
Comparison of Targets and Realization of HR Development
The achievements of human capital development are shown by the number of trainings and the costs spent
throughout the current year.
Table of Comparison of Human Resources Development Targets and Realization
Description 2024 Realization 2024 Target Achievement
1 2 3 4=2/3
Human Capital Development Cost (IDR million) 105,530 105,804 99,74%
Number of Trainings (trainings) 215 210 102,38%
Number of Training Participants (person) 330,892 290,775 113,80%
Throughout 2024, the Company has carried out human resource development through learning and development
programs for all employees using Classroom, Virtual Classroom and Self Learning methods. The achievement
percentage for the number of learning and development participants until December 2024 reached 113.80% or above
the predetermined target.
Future Targets (Projection)
Company has set future targets in accordance with the 2025 Company Work and Budget Plan document. This target
setting was based on several macro assumptions as follows:
Table of Assumptions in Preparing Projections
Macro Assumptions 2025
Growth PDB (% yoy) 5.1
BI 7 Days Reverse Repo Rate (%) 5.5
PT Bank Tabungan Negara (Persero) Tbk 341
Page 344
Management Discussion
and Analysis on Bank Performance
Macro Assumptions 2025
Inflation (%) 3.2
Exchange Rate (IDR/USD) 16.000
Loan Growth(%) 11.0
Third Party Fund Growth (%) 8.0
Source: BTN Chief Economist Analysis
Production/Operational Projection
Production/operational projections for 2025 are as follows:
Table of Production/Operational Projection (in %)
Description 2025 Growth Projection
LOANS AND FINANCING
Housing Loan 5.61%
Non Housing Loan 14.84%
Total Loans 7.14%
Total Financing 8.76%
Total Loans and Financing 7.34%
THIRD PARTY FUND
Current Accounts 8.93%
Savings 13.16%
Time Deposit 6.91%
Total Third Party Fund 8.51%
Financial Projection
The financial projections for 2025 are as follows:
Table of Financial Projection (in %)
Description 2025 Projection Growth
FINANCIAL POSITION
Asset 7.87%
Liabilities 8.00%
Equity 6.18%
INCOME AND PROFIT
Interest income 10.22%
Income from operations 11.88%
Net Income 10.35%
342 PT Bank Tabungan Negara (Persero) Tbk
Page 345
Annual
Report 2024
Description 2025 Projection Growth
FINANCIAL RATIO
CAR 1.46%
NPL (0.22%)
ROA 0.02%
ROE 0.10%
NIM 0.46%
Capital Structure Projection
The projected capital structure for 2024 is as follows:
Table of Capital Structure Projection (in %)
Description 2025 Projection Growth
Core Capital (Tier 1) (13.31%)
Main Core Capital (Common Equity Tier - CET 1) (13.31%)
Additional Core Capital (Additional Tier - AT 1) 0%
Supplementary Capital (Tier 2) 273.10%
Total Capital 8.74%
Risk Weighted Assets (RWA) 0.64%
Minimum Capital Adequeacy Requirement(KPMM) 1.46%
Dividend Policy Projection
Dividend policy projection information is as follows:
Table of Dividend
Realization
2025
Description
Projection
2024 2023 2022 2021
CAPITAL PLAN
1. Net Income 3,341 3,028 3,419 3,045 2,376
2. Dividend Pay Out (DPO) 668 606 684 609 238
3. DPO Ratio 20.00% 20.00% 20.00% 20.00% 20.00%
The basis of the dividend distribution policy is based funds for further business expansion, without reducing
on the decision of the Annual General Meeting of the rights of the Company GMS to determine otherwise
Shareholders (AGMS) or Extraordinary General Meeting in accordance with the provisions of the articles of
of Shareholders (EGMS) based on Law No. 40 of 2007 association. The amount of Company dividend will be
concerning Limited Liability Companies. Factors that determined at the General Meeting of Shareholders
are taken into consideration in determining the amount (GMS). Management plans to distribute a dividend
and payment of dividends include the level of financial payout ratio minimum of 20% if there is a cash surplus
health, the level of capital adequacy, and the need for from operational activities after these funds have been
PT Bank Tabungan Negara (Persero) Tbk 343
Page 346
Management Discussion
and Analysis on Bank Performance
set aside for reserve funds, financing activities, capital to increase activation and transactions within Balé by
expenditure plans, and Company working capital. BTN, thereby enhancing Third-Party Funds (DPK) growth
Company receives dividends from the distribution of by boosting both the Number of Accounts (NoA) and
net income. The amount of dividends depends on the Volume of Accounts (VoA) through the optimization of a
dividend policy implemented. 360-degree campaign strategy.
Marketing Projection In addition, BTN Prospera, Balé Bisnis, Plus by BTN
Prioritas, BTN Payroll, Balé Pinjam, and KPR BTN (both
In 2025, the campaign strategy will focus on Balé subsidized and non-subsidized) are also included in the
by BTN, BTN’s SuperApp, which will serve as the Hero 2025 campaign plan. These initiatives aim to increase
Campaign for all BTN programs and promotions, the realization of Third-Party Funds (DPK) from both
including Balé Be Free, Balé 3S (Santap, Santai, Sehat), retail and institutional segments, as well as enhance the
Balé Unlock Your World, and others. This strategy aims realization of credit and financing.
Campaign Plan 2025
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Primary
Funding
Side
bale korpora
Lending
launch Maret
2025
Side 3 Million Houses Program
Festive KPR BTN
BTN 75th Ramadan BTN 79th
49th
Campaign Anniversary Eid-Fitr Anniversary
Anniversary
• BTN eChannel Products & Promo (Bale, IB and ATM) • Bale Points • KUR and KUMK products & programs
Always On • BTN Visa Debit Card Products & Promos • BTN Agent • Other BTN Products, Programs & Services
• BTN Savings, BTN Siap! & e-Deposito, multi currency • BTN Priority Services & Programs • Corporate Communication
• BTN Business & Bale Business Savings • KAR & KRING Products & Programs • Festive
• KPR (Subsidized (Tapera & FLPP) & non-subsidized) & BTN Property • Commercial Credit Financing • IFG Cooperation
• BTN Payroll Products • Government Communication
• BTN Paylater • Sharia Products & Programs • Institutional Current Accounts and
Deposits
Event Plan 2025
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
RUPST ROADSHOW KOTA SUPER APPS 2025
Economic Outlook & CNY HUT ke-49
Jakarta & Surabaya KPR BTN
Bukber Jakarta Medan Surabaya Makassar Balikpapan Denpasar Bandung Undian Bale
BTNers Point Festival
Periode 2
Launching Swara
BTN Housingpreneur BTN Prospera Paylater HUT RI, Prambanan
Movie Night Roadshow BTN Jakarta Lomba
BTN JAKIM Bulan Inklusi
International Marathon BTNers & Akad Massal
(Event Day) Keuangan
BTN (BTN JAKIM) Culinary
Analyst
Anniversary Grandlaunching Undian Bale Festival Bale BTN Prospera
Silaturahmi bale by BTN Meeting
Festival Point Festival Movie Night
& Doa 9M25
2025
Bersama
Analyst Pasar Analyst Launching
Dolan Ria Amola Office BTN Prospera BTN Learning Economic &
Meeting Madang Meeting Iduladha Kartu Kredit
Prambanan Battle Movie Night Festival Risk Outlook
FY24 Lebaran 1Q25 BTN
Undian Leadership
Spektadeal Forum
Periode Mudik Analyst
Semester 2 Defile BTN Silaturahmi BTN Prospera
2024 Bersama Meeting BTN Housingpreneur Batch 2
Mini Olympic Idulfitri Movie Night
BUMN 1H25
344 PT Bank Tabungan Negara (Persero) Tbk
Page 347
Annual
Report 2024
Human Resource Development Projection
The 2025 Human Resource Development (HRD) projection is as follows:
Table of Human Resource Development (HRD) (in %)
Description 2025 Projection
HRD Development Cost (IDR million) 133.000
Number of Trainings (sessions) 250
Number of Training Participants (people) 325.000
Evaluation of Long Term Plans (RJP)
The previous Company Long-Term Business Plan (RJP) Company must become the fastest-growing and most
was drafted in 2020 for the 2021–2025 period. Company sustainable company, with a CAGR of 13% from 2019 to
has set a vision to become The Best Mortgage Bank 2025, outperforming peer mortgage banks. BTN must
in Southeast Asia by 2025. There are two key factors have the highest ROE among peer mortgage banks, with
to achieving this aspiration: growth and profitability. a target of 20%.
Comparative Projection of BTN with Similar Banks
By 2025, BTN to be one of the fastest growing and most profitable mortgage banks globally.
CAHR >13%
xx%
ROF >16%
• Cut off USD 10 Miliar di Asia Tenggara, India, Cina, Brazil, Nigeria, AS, Inggris, Rusia
Mortgage Mortgage, CAGR, ROE, Mortgage Mortgage, CAGR, ROE,
% dari aset 2019 USD 17-19 2019 % dari aset 2019 USD 17-19 2019
pinjaman Miliar pinjaman Miliar
94 246 3.2% 5.0% 34 325 -0.1% 10.4%
90 12.2%
25 10.6% 15.9% 31 12.2%
596 15.3% 11.7%
85 35 8.4% 15.6% 31 756 12.5% 10.4%
81 216 3.4% 4.6% 31 22 1.6% 10.3%
73 91 10.4% 17.0% 31 573 14.2% 10.9%
68 403 0.6% 6.1% 29 26 8.9% 8.1%
67 12 13%1 20%1 27 40 9.9% 10.5%
67 84 3.7% 17.5% 26 51 2.5% 11.2%
44 431 -8.8% 14.1% 23 46 -1.9% 10.9%
37 29 8.3% 12.8% 21 74 17.0% 21.9%
35 760 12.2% 12.7% 20 55 0.2% 12.6%
35 25 11.1% 10.1% 20 65 15.6% 1.4%
1. Angka BTN sebagai bagian dari aspirasi 2025
PT Bank Tabungan Negara (Persero) Tbk 345
Page 348
Management Discussion
and Analysis on Bank Performance
The achievement of each Corporate Plan aspiration 3. The proposed dividend distribution amount has
indicator for Company up to December 2024 is mostly been submitted to the Board of Directors and the
on track. While some indicators have yet to reach the Board of Commissioners.
2025 aspiration targets, the majority have already 4. The dividend distribution schedule includes the
shown improvements compared to 2019 achievements. following key dates:
a. Publication of the dividend distribution plan,
Corporate Plan 2024: Targets and Realization which is announced alongside the Summary of
As of December 2024, the cumulative mortgage (KPR) RUPS Minutes;
disbursement reached 931,453 units, making a significant b. Cum Dividend in the Regular and Negotiated
contribution to the Government’s One Million Houses Markets, which occurs two trading days before
Program. However, there is still a gap of 250,569 units, the recording date;
due to several factors, including the prolonged Covid-19 c. Ex-Dividend in the Regular and Negotiated
pandemic, which lasted for three years (2020-2022), Markets, which takes place one trading day after
fluctuation in the allocation quota for subsidized mortgages Cum Dividend in the Regular and Negotiated
(Subsidized Housing Loan), challenges in housing supply Markets;
and demand. From a profitability perspective, the Return d. Cum Dividend in the Cash Market, which
on Equity (REO) ratio has not yet reached the 2024 coincides with the recording date;
Corporate Plan Target. This is due to the rights issue and e. Ex-Dividend in the Cash Market, which takes
State Capital Injection (PMN) in 2022, which significantly place one trading day after Cum Dividend in the
increased equity, impacting the REO ratio. Cash Market;
f. Recording Date of eligible shareholders, which
occurs eight trading days after the RUPS;
Policy, Announcements and g. Dividend Payment, which is made no later than
Payment of Dividend 30 days after the publication of the Summary of
RUPS Minutes.
The dividend distribution policy is internally regulated 5. The requirements for dividend distribution are as
under PT.9-AD.2 concerning the Organization of the follows:
General Meeting of Shareholders (RUPS). The dividend a. The use of net profit, including the determination
policy is evaluated annually, taking into account of the amount allocated for reserves, was
Company’s historical performance as well as future decided by the General Meeting of Shareholders
business and economic potential. (RUPS).
b. All net profit, after deducting the reserve
The policy includes the following provisions: allocation, was distributed to shareholders as
1. Considerations for Dividend Distribution: dividends, unless otherwise determined by the
a. Dividend distribution considers Company’s AGMS.
historical performance and future business and c. Dividends can only be distributed if Company
economic potential. has a positive retained earnings balance.
b. The dividend payout ratio is determined based d. If the Annual General Meeting of Shareholders
on the fairness of profitability performance (RUPST) approves the distribution of cash
from business activities and contributions to dividends, Company must disburse the dividends
shareholders. The ratio is analyzed and proposed to eligible shareholders no later than 30 days
by the Strategic Planning Division, taking into after the decision is made, following applicable
account reserve funds, funding activities, capital regulations.
expenditure plans, and Company’s working capital. e. Dividend payments were processed by the
c. The dividend distribution plan is based on Central Operation (CEOD) and Treasury (TRSD)
fulfilling shareholders’ rights, prioritizing the divisions under their respective authorities. The
Bank’s interests, and is incorporated into BTN’s Corporate Secretary Division provided details
business plan. regarding the purpose and allocation of the
2. Mekanisme persetujuan pembagian dividen adalah dividend payments.
melalui RUPS dengan memenuhi Anggaran Dasar 6. The procedures for dividend distribution are as
Bank dan ketentuan regulator. follows:
2. The approval mechanism for dividend distribution a. Cash dividends were distributed to shareholders
is carried out through the General Meeting of whose names were recorded in Company’s
Shareholders (RUPS), in compliance with the Bank’s Shareholder Register on the recording date and/
Articles of Association and regulatory provisions. or shareholders with Company shares in sub-
securities accounts at PT Kustodian Sentral Efek
Indonesia (KSEI) at the close of trading.
346 PT Bank Tabungan Negara (Persero) Tbk
Page 349
Annual
Report 2024
b. For shareholders whose shares were held d. Under Indonesian tax regulations, Corporate
in collective custody at KSEI, cash dividend Taxpayers (WP Badan DN) were exempt from
payments were processed through KSEI and tax on dividends, and Company did not withhold
distributed on the dividend payment date income tax on dividends paid to corporate
published by the Bank. The dividends were taxpayers. Individual taxpayers (WPOP DN) were
credited to the Customer Fund Account (RDN) also exempt from tax, provided that the dividends
at the securities company and/or custodian were reinvested within Indonesia. If an individual
bank where the shareholder had an investment taxpayer does not meet the reinvestment
account. Meanwhile, for shareholders whose requirement, the received dividends will be
shares were not held in KSEI’s collective custody, subject to income tax (PPh). The individual must
the cash dividends were transferred directly to self-report and pay the applicable tax according
their registered bank accounts. to tax laws.
c. Cash dividends were subject to taxation under
applicable tax regulations
Information regarding the announcement and payment of dividends for the 2022-2023 financial year is presented as
follows.
Table of Announcement And Payment Of Dividends For Fiscal Year 2022-2023
Description Fiscal Year 2023 Fiscal Year 2022
Net Income (IDR) 3,500,987,620,258,75 3,045,071,859,198
Cash Dividend 700,197,524,051,75 609,014,371,840
Non Cash Dividend *) - -
Number of Shares (qty) 14,034,444,413 14,034,444,413
Cash Dividend per Share (IDR) 49.90 43.39
Non Cash Dividend per Share *) - -
Dividend Payout Ratio (%) 20 20
Announcement Date 20 March 2024 17 March 2023
Cash Dividend Payment Date 5 April 2023 14 April 2023
Non Cash Dividend Payment Date*) - -
Note: *) BTN does not have Non-Cash dividends
In 2024, Company distributed cash dividends for the 2023 million five hundred twenty four thousand fifty one
financial year in accordance with the results of the 2024 point seven five rupiah) or IDR49.89136 (forty nine
Annual GMS decision on March 6, 2024. Based on the point eight nine one three six rupiah) per share
2024 Annual GMS, Shareholders decided to approve and is determined as cash dividends. The payment is
determine the use of Company’s net profit for the 2023 carried out with the following provisions :
financial year amounting to IDR3,500,987,620,258.75 a. Dividends of the Republic of Indonesia‘s share
(three trillion five hundred billion nine hundred eighty amounting to IDR420,118,514,441.03 (four hundred
seven million six hundred twenty thousand two hundred twenty billion one hundred eighteen million five
fifty eight point seven five rupiah) as follows: hundred fourteen thousand four hundred and
1. 20% (twenty percent) or a total of IDR700,197,524,051.75 forty one point zero three rupiah) were deposited
(seven hundred billion one hundred ninety seven into the State General Cash Account.
PT Bank Tabungan Negara (Persero) Tbk 347
Page 350
Management Discussion
and Analysis on Bank Performance
b. The dividends for the fiscal year 2023 were and thirty six Rupiah) will be paid to shareholders
distributed proportionally to each shareholder proportionally according to share ownership.
whose name was recorded in the Shareholder c. Granting authority and power to the Company
Register on the recording date. Board of Directors with the right of substitution
c. The Board of Directors was granted the authority to determine the schedule and procedures for
and power, with the right of substitution, to: distribution of dividends for the 2022 financial
- Determine the schedule and procedures for year in accordance with applicable provisions.
dividend distribution for Fiscal Year 2023 the 2. 80% (eighty percent) or IDR2,436,057,487,358 (two
applicable regulations. trillion four hundred thirty six billion fifty seven million
- Deduct dividend taxes in compliance with four hundred eighty seven thousand three hundred
prevailing tax laws fifty eight Rupiah) as retained earnings balance.
- Handle other technical matters related to
dividend distribution as per the applicable
rules and regulations. Realization of the Use of Public
2. 80% (eighty percent) or a total of Offering Funds
IDR2,800,790,096,207.00 (two trillion eight hundred
billion seven hundred ninety million ninety-six The year 2024 is not a period that requires the Company
thousand two hundred and seven rupiah) is used as to report on the realization of the public offering, thus the
retained earnings balance. Company does not have information on the Report on
the Use of Proceeds from the Public Offering.
In 2023, Company distributed cash dividends for the
2022 financial year in accordance with the results of the
2023 Annual GMS resolution on March 16, 2023. Based on Material Information Regarding
the 2023 Annual GMS, Shareholders decided to approve Investment, Expansion, Divestment,
and determine the use of Company’s net profit for the Business Merger/Merger,
2022 financial year amounting to IDR3,045,071,859,198 Acquisition, Debt and Capital
(three trillion forty-five billion seventy-one million eight Restructuring
hundred fifty-nine thousand one hundred and ninety-
eight Rupiah) as follows: Company has rules and procedures governing
1. As much as 20% (twenty percent) or IDR609,014,371,840 acquisitions, takeovers, and extraordinary transactions,
(six hundred nine billion fourteen million three such as mergers and the sale of substantial corporate
hundred seventy one thousand eight hundred and assets, as outlined in BTN’s Articles of Association and
forty Rupiah) as cash dividends to Shareholders General Policy Number KU.4 on the Management of
which will be paid with the following provisions: Subsidiaries and Sharia Business Units. These policies
a. Dividends from the Government of the Republic ensure that transactions are conducted transparently,
of Indonesia for ownership of 60% (sixty percent) under fair conditions, and in a manner that protects the
of shares amounting to IDR365,408,623,104 (three rights of all shareholders according to their respective
hundred sixty five billion four hundred eight classes.
million six hundred twenty three thousand one
hundred and four Rupiah), will be deposited into Investment
the State General Treasury Account in Rupiah
currency. As one of the business activities in the banking industry,
b. Dividends from Other Shareholders for ownership the Bank invests in the form of debt securities, both
of 40% (forty percent) of public shares issued by the Government and corporations. Below
amounting to IDR243,605,748,736 (two hundred are details of investments in the form of debt securities
forty three billion six hundred five million seven made by Company as of December 31, 2024 and 2023:
hundred forty eight thousand seven hundred
348 PT Bank Tabungan Negara (Persero) Tbk
Page 351
Annual
Report 2024
Table of Securities Investment (in IDR million)
Value
Description
2024 2023
Fair value through profit or loss 21,207,876 4,838,453
Fair value through other comprehensive income 15,291,478 14,440,327
Amortized cost 20,825,986 21,921,022
Total Securities 57,325,340 41,199,803
The fair value portfolio through profit or loss as of Expansion
December 31, 2024, experienced an increase due to the
presence of money market instruments, namely Bank Company has expanded in 2024 in terms of office network
Indonesia Rupiah Securities (SRBI) and Bank Indonesia development by adding a total of 1 Functional Office (KF)
Foreign Exchange Securities (SVBI). SRBI and SVBI are (Menara II BTN) and adding a total of 2 Regional Offices
new instruments issued by Bank Indonesia to develop (Kanwil Jakarta I and Kanwil Kalimantan). Furthermore,
the money market and foreign exchange market and Company also opened a network of Conventional
can also be used in Monetary Operations in 2024. Sub-Branch Offices (KCP) with a total of 1 Office (KCP
Nusantara) and Sharia KCPs (KCPS) with a total of 2
Throughout 2024, the Sharia Business Unit (UUS) invested offices (KCPS Sigli and KCPS Kuningan). In addition,
in bonds with a total accumulated value of IDR258.116 Company increased the status of 2 office networks,
trillion. In the same year, bonds that matured or were namely KCP Agung Sedayu to become the Agung
liquidated amounted to IDR249.752 trillion. Sedayu Branch Office (KC) and KCPS Lhokseumawe to
become KC Sharia (KCS) Lhokseumawe. In total, BTN’s
total office network in 2024 consists of 4 Functional
Office, 8 Regional Office, 82 Conventional KC, 35 Sharia
KC, 536 Conventional KCP, and 75 Sharia KCP.
Table of Office Network Expansion
Office Network Addition of Office Network Operated Date
Regional Office (Kanwil) Kanwil Jakarta I May 2, 2024
Kanwil Kalimantan July 12, 2024
Conventional Branch Office (KC) KC Agung Sedayu (Status upgrade from KCP) June 3, 2024
Sharia Brand Office (KCS) KCS Lhokseumawe (Status upgrade from KCS) December 19, 2024
Conventional Sub-Branch Office (KCP) KCP Nusantara December 20, 2024
Sharia Sub-Branch Office (KCPS) KCPS Sigli June 27, 2024
KCPS Kuningan June 24, 2024
Functional Office (KF) Menara II BTN March 18, 2024
Divestment Business Merger/Consolution
Throughout 2024, Company did not carry out divestment Throughout 2024, Company did not carry out business
activities. merger/ consolidation activities.
PT Bank Tabungan Negara (Persero) Tbk 349
Page 352
Management Discussion
and Analysis on Bank Performance
Acquisition nepotism (KKN) and harmonious relationships with all
stakeholders.
Throughout 2024, Company did not carry out acquisition
activities. BTN always complied with the applicable provisions
in terms of transactions that contained conflicts of
Debt and Capital Restructuring interest, as stated in the OJK Regulation Number
42/POJK.04/2020 Concerning Affiliated Transactions
Throughout 2024, Company did not carry out debt and and Transactions with Conflicts of Interest and OJK
capital restructuring activities. Circular Letter Number 13/SEOJK. 03/2017 concerning
Implementation of Governance for Commercial Banks.
Material Transaction Information From an internal standpoint, BTN had a Transaction
Containing Conflict of Interest and/ Policy Containing Conflicts of Interest as stipulated in
or Transactions with Affiliated the Guidelines and Work Procedures for the Board of
Parties Directors and the Board of Commissioners. The policy
of providing funds to related parties that contained
Material Transactions were any transactions made by conflicts of interest was contained in a separate
public companies or controlled companies that met the Directors Regulation which stipulated that Company
transaction value limit equal to 20% (twenty percent) or was prohibited from providing funds to related parties
more of the Public Company’s equity (OJK Regulation without the approval of the Board of Commissioners.
Number 17/POJK.04/2020 Concerning Material
Transactions and Changes in Business Activities. In the event of a conflict of interest between Company and
shareholders, members of the Board of Commissioners,
Transactions Containing Conflicts of members of the Board of Directors, Executive Officers and/
Interest or other parties related to Company, members of the Board
of Commissioners, members of the Board of Directors and
In accordance with the provisions of the OJK Regulation Executive Officers were prohibited from taking actions
Number 42/POJK.04/2020 Concerning Affiliated that might harm or reduce profits of Company and
Transactions and Conflicts of Interest Transactions, had todisclose the conflict of interest in every decision.
a conflict of interest was the difference between the Company also properly documented every disclosure
economic interests of a public company and the in accordance with applicable regulations. Disclosure of
personal economic interests of members of the board conflict of interest was set forth in the minutes of meeting
of directors, members of the board of commissioners, at least including the name of the party having the conflict
major shareholders or controllers who can be of interest, the main issue of the conflict of interest and the
detrimental to the said public company. basis for consideration for making the decision.
Company’s business activities are inseparable from In principle, every Company employee avoided making
the relationships and interactions between individuals decisions that had situations and conditions where
within Company and with other parties, there is a there was a conflict of interest. Lending to the Directors,
potential conflict of interest that may be unavoidable Board of Commissioners and employees of Company
between one party and another, so that it can affect was carried out based on reasonable limits and in
the decision-making process and the performance of accordance with applicable Company regulations
the decision. which can be detrimental to Company. without differentiating it from other customers (arm’s
Company realizes the importance of a firm attitude length basis).
towards controlling and handling conflicts of interest
that occur within Company, so that effective business Throughout 2024, there were no transactions containing
management can be created in achieving Company’s conflicts of interest .
goals, free from all forms of corruption, collusion and
Table of Transactions Containing Conflicts of Interest
Name Position Decision Maker Transaction Type Transaction Value Information
Nil Nil Nil Nil Nil Nil
350 PT Bank Tabungan Negara (Persero) Tbk
Page 353
Annual
Report 2024
Affiliated Transactions 6. Relationship between the Company and Major
Shareholders.
Based on the provisions of the OJK Regulation Number
42/ POJK.04/2020 Concerning Affiliated Transactions Furthermore, Affiliate transactions are any activities
and Transactions with Conflicts of Interest, Affiliates are: and/ or transactions carried out by public companies
1. Family relations by marriage and descent to the or controlled companies with Affiliates of public
second degree, both horizontally and vertically; companies or Affiliates of Members of the Board of
2. The relationship between the party and the Directors, Members of the Board of Commissioners, Major
employee, director or commissioner of the party; Shareholders, or Controlling, including any activities
3. Relationship between 2 (two) companies where and/or transactions carried out by Public Company
there is 1 (one) or more members of the same Board or Controlled Company for the benefit of Affiliates of
of Directors or Board of Commissioners; Public Companies or Affiliates of members of the Board
4. The relationship between the Company and the of Directors, Members of the Board of Commissioners,
Party, either directly or indirectly, controls or is Major Shareholders, or Controllers.
controlled by the company;
5. Relationship between 2 (two) companies that are
controlled, either directly or indirectly, by the same
party; or
Disclosure of Affiliated Transactions
The disclosure of affiliated transactions that comply with Article 4 of POJK 42/2020 is as follows
Table of Disclosure of Affiliated Transaction
Transaction
Transaction Date Transaction Object Parties Involved Affiliated Relationship
Value
June 25, 2024 A plot of land located at IDR12,995,000,000,- PT Bank Tabungan BTN and Perum Perumnas
Letjen Hertasning No. 1, Negara (Persero) Tbk were affiliated as both
Kassikassi Subdistrict, and Perum Perumnas were directly controlled
Rappocini District, Makassar by the same entity, the
City, South Sulawesi Government of the Republic
Province, covering 637 m², of Indonesia
with land ownership rights
under Management Rights
No. 1/Rappocini Year 1985,
registered under Perum
Perumnas, and situated
adjacent to and behind BTN
Panakkukang Branch Office
December 31, 2024 A plot of land and a IDR10,810,810,811,- PT Bank Tabungan BTN and PT Asuransi Jiwa
building located at Jl. Gajah Negara (Persero) and IFG were affiliated as PT
Mada No. 112, Pekauman PT Asuransi Jiwa IFG Asuransi Jiwa IFG was
Subdistrict, Tegal Barat indirectly controlled by the
District, Tegal City, Central Government of the Republic
Java Province, covering of Indonesia through PT
1,043 m² of land and Bahana Pembinaan Usaha
approximately 525 m² of Indonesia (IFG), making
building space, registered BTN and PT Asuransi Jiwa
under PT Asuransi Jiwa IFG IFG shared the same
controlling entity, the
Government of the Republic
of Indonesia
PT Bank Tabungan Negara (Persero) Tbk 351
Page 354
Management Discussion
and Analysis on Bank Performance
Transaction
Transaction Date Transaction Object Parties Involved Affiliated Relationship
Value
December 31, 2024 A plot of land and a IDR5,088,288,288,- PT Bank Tabungan BTN and PT Asuransi Jiwa
building located at Jl. Jend. Negara (Persero) and IFG were affiliated as PT
Sudirman No. 69, Batin Tikal PT Asuransi Jiwa IFG Asuransi Jiwa IFG was
Subdistrict, Taman Sari indirectly controlled by the
District, Pangkalpinang City, Government of the Republic
Bangka Belitung Province, of Indonesia through PT
covering 775 m² of land and Bahana Pembinaan Usaha
634 m² of building space, Indonesia (IFG), making
registered under BTN and PT Asuransi Jiwa
PT Asuransi Jiwa IFG IFG shared the same
controlling entity, the
Government of the Republic
of Indonesia
In accordance with the Company’s articles of Compliance with Related Regulations
association, affiliated transactions that require
the approval of the GMS have to comply with the BTN has ensured that its transactions comply with OJK
provisions of the Independent GMS. In 2024, no affiliated Regulation No. 42/POJK.04/2020 concerning Affiliated
transactions required approval from the General Transactions and Conflict of Interest Transactions at the
Meeting of Shareholders (RUPS). time these transactions were carried out.
Affiliated Transactions Report Board of Directors’ Statement on Affiliated
Transactions
BTN has submitted the Affiliated Transactions Report
in compliance with Article 6 of POJK 42/2020 to the The Board of Directors declares that affiliated
Financial Services Authority (OJK) within the deadline, transactions have undergone proper procedures, are
which is by the end of the second business day following conducted in line with general business practices,
the transaction date. comply with the arm’s length principle, and adhere to
prevailing laws and regulations. This Board of Directors‘
Affiliated Transactions as Business Statement is also included in every disclosure of
Activities Conducted in the Framework of information regarding affiliate transactions.
Generating Business Income And Executed
Routinely, Repeatedly, and/or Continuously Role of the Board of Commissioners and
Audit Committee In Affiliated Transactions
In accordance with Article 8 and Article 9 POJK 42/2020,
there were Affiliated Transactions which became The Board of Commissioners, together with the Audit
business activities carried out in order to generate Committee and/or other committees under the Board
business income and were carried out routinely, of Commissioners, plays a strategic role in ensuring
repeatedly and/or continuously. BTN has recorded that affiliated transactions are carried out according to
these transactions, which are disclosed in Note 44 of the general business practices. The Board is responsible for
Financial Statements. ensuring adequate procedures to assess and oversee
these transactions to ensure compliance with the arm‘s
Transaction Fairness length principle. This includes reviewing transaction
value fairness, completeness of requirements, and
Transactions with affiliated parties are conducted compliance with regulations to prevent conflicts of
in accordance with general business practices, interest that may harm BTN and its stakeholders. Thus,
adhering to the arm’s length principle. The Company the Board actively upholds transparency, integrity,
complies with the provisions of OJK Regulation No. 42/ and accountability in implementing Good Corporate
POJK.04/2020 concerning Affiliated Transactions and Governance.
Conflict of Interest Transactions that for transactions
above IDR 5 billion, the Company appoints an Appraisal
Service Office (KJPP) to ensure that the transactions are
carried out fairly and at market prices.
352 PT Bank Tabungan Negara (Persero) Tbk
Page 355
Annual
Report 2024
Related Parties Transaction
In carrying out its business, the Bank carries out d. A party is a member of the Bank’s key management
transactions with related parties as defined in PSAK personnel;
No. 7 concerning “Related Party Disclosures”. A party is e. A party is a close family member of the individual
considered related to the Bank if: described in (a) or (d);
a. A party that directly, or indirectly through one or more f. A party is a post-employment benefits program for
intermediaries, a party (i) controls, or is controlled employee benefits from the Bank or a Bank-related
by, or is under common control with, the Bank; (ii) entity;
has significant influence over the Bank; or (iii) has g. A party is an entity that is controlled, jointly controlled
joint control over the Bank; or significantly influenced by several entities, directly
b. A party that is in the same business group as the or indirectly, individuals as described in point (d) or
Bank; (e).
c. A party that is a joint venture where the Bank is the
venturer;
Name of the Transacting Parties and Nature of Relations
Related parties conducting transactions with BTN are listed in the following table:
Table of Related Parties
Elements of Related Party
Related Parties Relationship Type
Transactions
Government of the Republic of The majority shareholder is through the Government Bonds,, Loans and sharia
Indonesia (RI) Indonesian Ministry of Finance financing/receivables
PT Bank Mandiri (Persero) Tbk Under the same control through the Central Current accounts with other banks,
Government of the Republic of Indonesia placements with Bank Indonesia and other
banks, Securities, Acceptance payables,
Loans and securities issued
PT Bank Negara Indonesia Under the same control through the Central Current accounts with other banks,
(Persero) Tbk Government of the Republic of Indonesia placements with Bank Indonesia and
other banks, Securities, securities issued,
Acceptance payables
PT Bank Rakyat Indonesia (Persero) Under the same control through the Central Current accounts with other banks,
Tbk Government of the Republic of Indonesia placements with Bank Indonesia and other
banks, Securities, dan securities issued
PT Bank Sharia Indonesia Tbk Under the same control through the Central Current accounts with other banks, and
Government of the Republic of Indonesia placements with Bank Indonesia and other
banks
PT Bank Mandiri Taspen Subsidiaries of State-Owned Enterprises Placements with Bank Indonesia and other
(BUMN) banks, Securities
PT Bank Raya Tbk (dahulu PT Bank Subsidiaries of State-Owned Enterprises Placements with Bank Indonesia and
Rakyat Indonesia Agroniaga Tbk) (BUMN) other banks, Deposit from other banks dan
securities issued
Lembaga Pembiayaan Ekspor Under the same control through the Central Placements with Bank Indonesia and
Indonesia Government of the Republic of Indonesia other banks, Securities
PT Hutama Karya (Persero) Under the same control through the Central Loans and sharia financing/receivables,
Government of the Republic of Indonesia Acceptance receivable
Perum Perumnas Under the same control through the Central Securities, dan Loans and sharia
Government of the Republic of Indonesia financing/receivables
PT PP Properti Tbk Subsidiaries of State-Owned Enterprises Acceptance receivable and Loans and
(BUMN) sharia financing/receivables
PT Wijaya Karya Bangunan Subsidiaries of State-Owned Enterprises (BUMN) Acceptance receivable dan Guarantee Bill
Gedung Tbk
PT Wijaya Karya Industri Energi Subsidiaries of State-Owned Enterprises (BUMN) Acceptance receivable
PT Bank Tabungan Negara (Persero) Tbk 353
Page 356
Management Discussion
and Analysis on Bank Performance
Elements of Related Party
Related Parties Relationship Type
Transactions
PT Wijaya Karya Industri & Subsidiaries of State-Owned Enterprises Acceptance receivable
Konstruksi (BUMN)
Perum Percetakan Negara Republik Under the same control through the Central Loans and sharia financing/receivables
Indonesia (Perum PNRI) Government of the Republic of Indonesia
PT Danareksa Investment Subsidiaries of State-Owned Enterprises Securities and securities issued
Management (BUMN)
PT Adhi Karya (Persero) Tbk Under the same control through the Central Loans and sharia financing/receivables
Government of the Republic of Indonesia
PT Angkasa Pura II (Persero) Under the same control through the Central Loans and sharia financing/receivables
Government of the Republic of Indonesia
PT Dok Dan Perkapalan Surabaya Under the same control through the Central Loans and sharia financing/receivables
(Persero) Government of the Republic of Indonesia
PT HK Realtindo Subsidiaries of State-Owned Enterprises Loans and sharia financing/receivables
(BUMN)
PT Indah Karya (Persero) Under the same control through the Central Loans and sharia financing/receivables
Government of the Republic of Indonesia
PT Jasamarga Bali Tol Subsidiaries of State-Owned Enterprises Loans and sharia financing/receivables
(BUMN)
PT Mandiri Manajemen Investasi Subsidiaries of State-Owned Enterprises Securities and securities issued
(BUMN)
PT Patra Jasa Subsidiaries of State-Owned Enterprises Loans and sharia financing/receivables
(BUMN)
PT Permodalan Nasional Madani Subsidiaries of State-Owned Enterprises Securities, Loans and sharia financing/
(BUMN)/ Subsidiary of State Owned Enterprise receivables
(SOE)
PT Amarta Karya (Persero) Under the same control through the Central Loans and sharia financing/receivables
Government of the Republic of Indonesia
PT Perusahaan Pengelola Asset Under the same control through the Central Securities dan Loans and sharia financing/
(Persero) Government of the Republic of Indonesia receivables
PT Taspen (Persero) Under the same control through the Central Securities issued
Government of the Republic of Indonesia
PT Virama Karya (Persero) Under the same control through the Central Loans and sharia financing/receivables
Government of the Republic of Indonesia and Guarantee Bill
PT Waskita Bumi Wira Subsidiaries of State-Owned Enterprises Loans and sharia financing/receivables
(BUMN)
PT Waskita Karya Realty Subsidiaries of State-Owned Enterprises Loans and sharia financing/receivables
(BUMN)
PT PPA Finance Subsidiaries of State-Owned Enterprises Loans and sharia financing/receivables
(BUMN)
PT Waskita FIM Perkasa Realti Subsidiaries of State-Owned Enterprises Loans and sharia financing/receivables
(BUMN)
PT Pertamina (persero) Under the same control through the Central Loans and sharia financing/receivables
Government of the Republic of Indonesia and securities
PT Yodya Karya (Persero) Under the same control through the Central Loans and sharia financing/receivables
Government of the Republic of Indonesia and Guarantee Bill
PT Adhi Persada Properti Subsidiaries of State-Owned Enterprises Loans and sharia financing/receivables
(BUMN)
PT Perumnas Jakabaring Subsidiaries of State-Owned Enterprises Loans and sharia financing/receivables
(BUMN)
PT Perumnas Sentraland Subsidiaries of State-Owned Enterprises Loans and sharia financing/receivables
(BUMN)
354 PT Bank Tabungan Negara (Persero) Tbk
Page 357
Annual
Report 2024
Elements of Related Party
Related Parties Relationship Type
Transactions
PT Perumnas TOD Tanjung Subsidiaries of State-Owned Enterprises Loans and sharia financing/receivables
(BUMN)
Sinergi Investasi Properti Subsidiaries of State-Owned Enterprises Loans and sharia financing/receivables
(BUMN)
Perumnas Pondok Cina Subsidiaries of State-Owned Enterprises Loans and sharia financing/receivables
(BUMN)
PT Adhi Commuter Properti Subsidiaries of State-Owned Enterprises Loans and sharia financing/receivables
(BUMN) and other receivables
PT Angkasa Pura I (Persero) Under the same control through the Central Loans and sharia financing/receivables
Government of the Republic of Indonesia and securities
PT Jalin Pembayaran Nusantara Subsidiaries of State-Owned Enterprises Loans and sharia financing/receivables
(BUMN)
PT Reasuransi Nasional Indonesia Subsidiaries of State-Owned Enterprises Securities issued
(BUMN)
PT Tugu Reasuransi Indonesia Subsidiaries of State-Owned Enterprises Securities issued
(BUMN)
PT Puspetindo Subsidiaries of State-Owned Enterprises Loans and sharia financing/receivables
(BUMN)
PT Asuransi Kredit Indonesia Subsidiaries of State-Owned Enterprises Securities issued and Guarantee Bill
(BUMN)
PT Asuransi Jasa Indonesia Subsidiaries of State-Owned Enterprises Securities issued
(BUMN)
PT Asuransi Jasa Raharja Subsidiaries of State-Owned Enterprises Securities issued
(BUMN)
PT Perusahaan Listrik Negara Dalam pengendalian yang sama melalui Loans and Securities
(Persero) pemerintah pusat RI
PT Nindya Karya (Persero) Subsidiaries of State-Owned Enterprises Loans and Guarantee Bill
(BUMN)
PT Centurion Perkasa Iman Subsidiaries of State-Owned Enterprises Loans and Guarantee Bill
(BUMN)
PT Energi Pelabuhan Indonesia Subsidiaries of State-Owned Enterprises Guarantee Bill
(BUMN)
Perum Jaminan Kredit Indonesia Under the same control through the Central Securities issued
Government of the Republic of Indonesia
PT Daya Mitra Telekomunikasi Subsidiaries of State-Owned Enterprises Securities
(BUMN)
PT Industri Kereta Api Subsidiaries of State-Owned Enterprises Loans and sharia financing/receivables
(BUMN)
PT AXA Mandiri Financial Services Subsidiaries of State-Owned Enterprises Securities issued
(BUMN)
PT Penjaminan Infrastruktur Under the same control through the Central Securities issued
Indonesia (Persero) Government of the Republic of Indonesia
PT Reasuransi Indonesia Utama Under the same control through the Central Securities issued
(Persero) Government of the Republic of Indonesia
PT Tugu Pratama Indonesia Subsidiaries of State-Owned Enterprises Securities issued
(BUMN)
PT Sarana Multigriya Finance Under the same control through the Central Securities, Loans and Subordinated Loans
(Persero) Government of the Republic of Indonesia and securities subordinasi
PT Sinergi Colomadu Subsidiaries of State-Owned Enterprises Loans and sharia financing/receivables
(BUMN)
PT Bank Tabungan Negara (Persero) Tbk 355
Page 358
Management Discussion
and Analysis on Bank Performance
Elements of Related Party
Related Parties Relationship Type
Transactions
PT Perusahaan Gas Negara Under the same control through the Central Securities
(Persero) Tbk Government of the Republic of Indonesia
PT Pelabuhan Indonesia II (Persero) Under the same control through the Central Securities
Government of the Republic of Indonesia
PT PP Properti Jababeka Residence Subsidiaries of State-Owned Enterprises Loans and sharia financing/receivables
(BUMN)
PT Bahana Pembinaan Usaha Under the same control through the Central Securities, Income from recovery of loans
Indonesia (Persero) Government of the Republic of Indonesia written-off
PT Pegadaian Subsidiaries of State-Owned Enterprises Securities
(BUMN)
PT BNI Asset Management Subsidiaries of State-Owned Enterprises Securities issued and securities
(BUMN)
PT Waskita Karya (Persero) Tbk Under the same control through the Central Securities
Government of the Republic of Indonesia
Peruri Properti Subsidiaries of State-Owned Enterprises Loans and sharia financing/receivables
(BUMN) and Guarantee Bill
PT Waskita Beton Precast Tbk Subsidiaries of State-Owned Enterprises Securities
(BUMN)
PT BRI Manajemen Investasi Subsidiaries of State-Owned Enterprises Securities
(BUMN)
PT Pos Indonesia (Persero) Subsidiaries of State-Owned Enterprises Guarantee Bill
(BUMN)
PT Telkom Satelit Indonesia Subsidiaries of State-Owned Enterprises Guarantee Bill
(BUMN)
PT Inhutani V Subsidiaries of State-Owned Enterprises Loans and sharia financing/receivables
(BUMN)
Badan Pengelola Tabungan Under the same control through the Central Loans and Securities Subordinasi
Perumahan Rakyat Government of the Republic of Indonesia
PT PP Urban Subsidiaries of State-Owned Enterprises Guarantee Bill, Tagihan lain-lain, Loans
(BUMN) and sharia financing/receivables
PT Aviasi Pariwisata Indonesia Under the same control through the Central Loans and sharia financing/receivables
(Persero) Government of the Republic of Indonesia
PT Bio Farma (Persero) Under the same control through the Central Loans and sharia financing/receivables
Government of the Republic of Indonesia
PT Inka Multi Solusi Service Subsidiaries of State-Owned Enterprises Loans and sharia financing/receivables
(BUMN) and other receivables
PT PAL Indonesia (Persero) Under the same control through the Central Loans and sharia financing/receivables
Government of the Republic of Indonesia dan Guarantee Bill
PT Pengembangan Pariwisata Under the same control through the Central Loans and sharia financing/receivables
Indonesia (Persero) Government of the Republic of Indonesia
Perum Pengangkutan Penumpang Under the same control through the Central Loans and sharia financing/receivables
Djakarta Government of the Republic of Indonesia
PT Wika Realty Under the same control through the Central Loans and sharia financing/receivables
Government of the Republic of Indonesia
PT Wika Gedung Under the same control through the Central Other receivables
Government of the Republic of Indonesia
PT Bahana TCW Investment Under the same control through the Central Securities
Management Government of the Republic of Indonesia
356 PT Bank Tabungan Negara (Persero) Tbk
Page 359
Annual
Report 2024
Reasonable Transaction and Reasons for (KJPP) to ensure that transactions are carried out fairly
the Transaction and at market prices.
Related party transactions occur due to the Company‘s Realization of Related Party Transactions
business needs. All transactions were carried out
normally and fairly (arm‘s length transaction) as The following are details of the realization of related
transactions with other parties. BTN guarantees that all party transactions due to ownership relationships with
transactions are free from conflicts of interest and have the Government of the Republic of Indonesia and related
complied with applicable laws and regulations. The party transactions with Key Management.
Company appoints the Public Appraisal Service Office
Table of Related Party Transactions Due to Ownership Relationships with
the Government of the Republic of Indonesia (in IDR million)
Description December 31, 2024 December 31, 2023
ASSET
Current accounts in other banks - Net 5,065,331 1,049,449
Placements with Bank Indonesia and other banks 61 61
Securities 5,489,205 3,851,105
Government Bonds 35,475,529 35,893,929
Loans and sharia financing/receivables 28,063,700 27,678,581
Acceptance receivable 433,708 68,746
Other bills 612,280 106,385
Total assets for related parties 75,139,814 68,648,256
Allowance for impairment losses from related parties (835,954) (1,227,528)
Total assets for related parties - net 74,303,860 67,420,728
Percentage of total assets of related parties to total assets 15.82% 15.37%
LIABILITIES
Deposits from customers 215,731,937 196,674,002
Acceptance payables 690,475 224,045
Securities issued 4,600,466 5,868,525
Loans received 23,352,225 22,453,290
Securities sold under repurchase agreements 963,042 -
Subordinated loans and subordinated securities 1,500,000 4,499,997
Total Liabilities for related parties 246,838,145 229,719,859
Percentage of total related party liabilities to total liabilities 60.53% 60.27%
TEMPORARY SYIRKAH SUNDS
Mudharabah current accounts 11,985 11,271
Mudharabah saving deposits 118,667 133,630
Deposito Mudharabah 6,845,833 8,899,072
Total Of Temporary Syirkah Funds For Related Parties 6,976,485 9,043,973
Percentage of Temporary Syirkah Sunds for related parties 23.85% 33.37%
PT Bank Tabungan Negara (Persero) Tbk 357
Page 360
Management Discussion
and Analysis on Bank Performance
Description December 31, 2024 December 31, 2023
INTEREST INCOME AND INCOME FROM PROFIT SHARING
Placements with Bank Indonesia and other banks 191,171 490,024
Securities 431,876 299,741
Government Bonds 1,187,847 1,220,648
Loans and sharia financing/receivables 1,875,653 1,195,910
Total interest income and profit sharing from related parties 3,686,547 3,206,323
Percentage of total interest income and profit sharing 12.48% 11.34%
INTEREST, PROFIT SHARING AND BONUS EXPENSES
Deposits from customer 5,810,627 3,137,470
Deposit from other banks 7,515 2,647
Securities issued 339,212 433,269
Loans received 1,075,252 965,111
Securities sold under repurchase agreements 19,314 34,593
Subordinated loan and securities 378,786 381,770
Mudharabah current accounts 112 18
Mudharabah saving deposits 1,244 1,896
Deposito Mudharabah 88,435 149,498
Total interest expenses and bonuses from related parties 7,720,497 5,106,272
Percentage of total interest expense, profit sharing and bonuses 42.78% 34.38%
COMMITMENTS AND CONTINGENCIES ON ADMINISTRATIVE ACCOUNTS
Warranty provided 1,072,600 1,116,581
On-going Irrevocable L/C 52,513 8,840
Total commitments and contingencies in off-balance sheet accounts from
1,125,113 1,125,421
related parties
Percentage of total commitments and contingencies in off-balance sheet
39.52% 41.28%
accounts
Table of Related Party Transactions with Key Management (in IDR million)
Description December 31, 2024 December 31, 2024
ASSET
Loan and Sharia receivables/financing 83,781 94,105
Allowance for impairment losses from related parties (350) (288)
Total assets for related parties-net 83,431 93,817
Percentage of total assets of related parties to total assets 0.02% 0.02%
LIABILITIES
Deposits from customers 60,759 186,924
Employee benefits liabilities 271,959 288,487
Total Liabilities from key management 332,718 475,411
Percentage of total Liabilities 0.08% 0.12%
358 PT Bank Tabungan Negara (Persero) Tbk
Page 361
Annual
Report 2024
Description December 31, 2024 December 31, 2024
TEMPORARY SYIRKAH FUNDS
Mudharabah current accounts - 2,203
Mudharabah saving deposits 7,226 8,363
Deposito Mudharabah 11,575 9,297
Total syirkah funds for related parties 18,801 19,863
Percentage of syirkah fund for related parties 0.06% 0.07%
INTEREST INCOME AND INCOME FROM PROFIT SHARING
Loans and Sharia Financing/receivables 5,149 6,821
Percentage of total interest income and profit sharing 0.02% 0.02%
INTEREST, PROFIT SHARING AND BONUS EXPENSES
Customer savings 1,175 1,446
Syirkah Funds 287 402
Total interest expense, profit sharing and bonuses 1,462 1,848
Percentage of total interest expense, profit sharing and bonuses 0.01% 0.01%
SALARY AND BENEFITS EXPENSES
Director 199,832 161,529
Board of Commissioned 76,260 64,480
Other Key Employen 265,859 216,253
POST-EMPLOYMENT BENEFITS
Other Key Employen 196,004 200,829
OTHER LONG-TERM REWARDS
Other Key Employen 75,955 87,658
Total 813,910 730,749
Percentage of total employee salary and benefits expenses 18.31% 18.35%
Disclosure References in Financial out for investment transactions. Likewise with other
Statements related party transactions such as guarantees issued
and placements with other banks.
Details of the names of parties related to the realization
(value) of related party transactions are presented in Board of Directors’ Statement on Related
the notes to Financial Report No. 4$ attached to this Party Transactions
Annual Report. These related transactions are business
activities carried out in order to generate business The Board of Directors stated that the related party
income and are carried out routinely, repeatedly and/ transaction has gone through adequate procedures to
or continuously. ensure that the transaction is carried out in accordance
with generally accepted business practices, including by
Transaction Review Mechanism Policy fulfilling the arm’s length principle. The Board of Directors
is required to report the results of the Credit Committee
All transactions have gone through a review mechanism Meeting Decision for certain debtor threshold values to
according to the type of transaction. Each transaction is the Board of Commissioners on a monthly basis. The
subjected to a transaction feasibility analysis, including provisions for debtor threshold values are as follows:
credit analysis for credit transactions to related parties. - Single debtor ≥ IDR350 million
Likewise, investment feasibility analysis has been carried - Group debtor ≥ IDR500 million
PT Bank Tabungan Negara (Persero) Tbk 359
Page 362
Management Discussion
and Analysis on Bank Performance
In accordance with the Company’s articles of Compliance with Related Regulations and
association, affiliated transactions that require the Conditions
approval of the GMS have to comply with the provisions
of the Independent GMS. In 2024, there were no related The Company is always committed to running a prudent
party transactions requiring GMS approval. business. All transactions have complied with applicable
rules and regulations.
Role of the Board of Commissioners
and Audit Committee in Related Party
Transactions Loan Policy for Board of
Commissioners/Directors
The Board of Commissioners, together with the Audit
Committee and/or other committees under the Loans granted to Directors and Commissioners are
Board of Commissioners, ensures that related party categorized as fund provisions to related parties in
transactions are conducted in line with general business accordance with OJK Regulation No. 38/POJK.03/2019,
practices. The Board guarantees adequate procedures amending POJK No. 32/POJK.03/2018 regarding Legal
to evaluate and supervise such transactions, ensuring Lending Limit (BMPK) and Large Fund Provision for
they comply with the arm’s length principle, transaction Commercial Banks. Such loans are provided under
value fairness, and all legal requirements, while avoiding market rates and on an arm’s length basis, adhering to
potential conflicts of interest. This ensures transparency, prudent banking principles.
integrity, and accountability within Good Corporate
Governance.
Changes in Legislation and Regulations and Their Impact on
the Company
Description of changes to statutory regulations in 2024 and their impact on the Company are explained as follows:
Table of Changes in Legal Regulations
Impact on Financial
No Regisltaion Setting Tree Impact on Banks
Statement
1. OJK Regulation Implementation of The Bank updated several internal The issuance of this
No. 2 of 2024 Governance for Sharia regulations, including: regulation has no
Commercial Banks - KU.4 on Subsidiaries and UUS quantitative impact on the
(BUS) and Sharia - KU.6 on Law, Compliance, AML-CFT, financial statements.
Business Units (UUS) PPPSPM, and Corporate Governance
- KK.6-D on Compliance Function
Guidelines
- KK.6-F on Corporate Governance
360 PT Bank Tabungan Negara (Persero) Tbk
Page 363
Annual
Report 2024
Impact on Financial
No Regisltaion Setting Tree Impact on Banks
Statement
2. OJK Rergulation Determination of The Bank updated several internal The issuance of this
No. 5 of 2024 Supervisory Status regulations, including: regulation has no
and Resolution of - KK and PT related to the quantitative impact on the
Commercial Bank implementation of the Recovery Plan. financial statements.
Issues
3. OJK Regulation Implementation of The Bank updated several internal The issuance of regulations
No. 12 of 2024 Anti-Fraud Strategies regulations, including: has no quantitative impact
for Financial Services - KK.8-K on Anti-Fraud Risk on the financial statements.
Institutions Management Procedure.
- PT.8-K.1 on Fraud Resolution and
Handling.
4. OJK Regulation Integration of Bank - The Bank must establish an integrated The issuance of this
No. 15 of 2024 Financial Reporting financial reporting process to ensure regulation has no
the accuracy, transparency, and quantitative impact on the
reliability of financial information and financial statements.
reports (ref. Article 2(1) POJK 15/2024).
- The Bank must develop and establish
internal control policies and
procedures for the financial reporting
process (ref. Article 4 POJK 15/2024).
5. OJK Regulation Bank Secrecy The Bank must adopt several The issuance of this
No. 44 of 2024 mechanisms outlined in this POJK, regulation has no
including definitions of Bank Secrecy, quantitative impact on the
procedures for requests and disclosures financial statements.
of Bank Secrecy, and other matters.
6. OJK Regulation Expansion of Banking The Bank must adopt several updated The issuance of this
No. 26 of 2024 Business Activities provisions in this OJK Regulation, regulation has no
including the implementation of Foreign quantitative impact on the
Exchange Transaction Activities (KUPVA), financial statements.
Electronic Signatures, and Electronic
Agreements.
7. Government Write-Off of Non- Reduces the potential for fee-based The issuance of this
Regulation Performing Loans income. regulation has no
No. 47 of 2024 for Micro, Small, and quantitative impact on the
Medium Enterprises 2024 financial statements.
(MSMEs) The implementation of this
regulation will commence
in 2025.
PT Bank Tabungan Negara (Persero) Tbk 361
Page 364
Management Discussion
and Analysis on Bank Performance
Changes in Accounting Policies
Description of information on changes to accounting policies in 2024 is as follows:
Table of Changes in Accounting Policies
Quantitative
Impact of Changes Exposure to
Changes in Accounting Reasons for Changes in
No in Accounting Consequences and
Policies Accounting Policies
Policies on Financial Adjustments
Statements
1. Amendment to PSAK No. 1 he policy change in 2023 The amendment to PSAK Updated BTN's internal
"Presentation of Financial was driven by the adoption No. 1 did not result in accounting policies
Statements" regarding long-term of the Indonesian Financial substantial changes to in accordance with
liabilities with covenants. Accounting Standards the Bank's accounting the amendment's
(PSAK), in alignment with policies and had no requirements.
The amendment became effective International Financial material impact on the
on January 1, 2024, following the Reporting Standards (IFRS), consolidated financial
revised effective date of the PSAK approved by the Financial statements for the
No. 1 amendment on "Presentation Accounting Standards current or prior year.
of Financial Statements" concerning Board – Indonesian Institute
"Classification of Liabilities as of Accountants (DSAK – IAI)
Current or Non-Current," initially set effective January 1, 2023.
for January 1, 2023.
This change was introduced
2. Amendment to PSAK No. 73 due to excessive and often The amendment to PSAK Updated BTN's internal
"Leases" regarding lease liabilities formalistic disclosures in No. 73 did not result in accounting policies
in sale and leaseback transactions financial statements and substantial changes to in accordance with
• This amendment adopts all a lack of clear guidance the Bank's accounting the amendment's
provisions from IFRS 16 "Leases" in distinguishing between policies and had no requirements.
concerning "Lease Liability in a accounting policy changes material impact on the
Sale and Leaseback.". and estimates. consolidated financial
• The amendment applies to statements for the
fiscal years starting on or after current or prior year.
January 1, 2024, with early
adoption permitted.
3. Amendment to PSAK No. 2 "Cash The amendments to Updated BTN's internal
Flow Statements" and PSAK No. 60 PSAK No. 2 and PSAK accounting policies
"Financial Instruments" regarding No. 60 did not result in in accordance with
the disclosure of "Supplier substantial changes to the amendment's
Financing Arrangements." the Bank's accounting requirements.
• Early adoption is permitted. policies and had no
material impact on the
consolidated financial
statements for the
current or prior year.
362 PT Bank Tabungan Negara (Persero) Tbk
Page 365
Annual
Report 2024
Quantitative
Impact of Changes Exposure to
Changes in Accounting Reasons for Changes in
No in Accounting Consequences and
Policies Accounting Policies
Policies on Financial Adjustments
Statements
4. Transactions with related parties The change was driven Related party Updated BTN‘s internal
as defined in PSAK No. 224 by the practice of transactions are accounting policies
“Disclosure of Related Parties.” transactions with related conducted under in accordance with
parties that require terms and conditions the amendment‘s
A party is considered related to proper categorization agreed upon by both requirements.
the Bank if: in accordance with parties, which may differ
a. The party, directly or accounting policies, as well from those applied in
indirectly through one or as the excessive disclosure transactions with third
more intermediaries, (i) of accounting policy parties.
controls, is controlled by, or information in the notes to
under common control with the financial statements,
the Bank; (ii) has significant which often appears merely
influence over the Bank; or (iii) formalistic. Additionally,
shares joint control with the there is a lack of clear
Bank; guidance in determining
b. The party is part of the same whether changes in
business group as the Bank.. accounting treatment
c. The party is a joint venture should be classified as
where the Bank is a venturer; changes in estimates or
d. The party is a key accounting policies.
management personnel
member of the Bank;
e. The party is an immediate
family member of anyone
listed in points (a) or (d);
f. The party is a post-
employment benefit plan for
the Bank or its related entities;
g. The party is an entity
controlled, jointly controlled,
or significantly influenced by
individuals described in points
(d) or (e).
PT Bank Tabungan Negara (Persero) Tbk 363
Page 366
Management Discussion
and Analysis on Bank Performance
Bank Soundness Level
The level of bank soundness reflects the results of an Level of Commercial Banks and OJK Circular Letter
assessment of the company’s condition regarding the No. 14/SEOJK.03/2017 Dated March 17, 2017 Concerning
bank’s risks and performance which can be seen from Assessment of the Soundness Level of Commercial Banks
the final ranking of the assessment results based on Using a Risk Approach (Risk-Based Bank Rating) which
OJK Regulation No. 04/POJK.03/2016 Dated January includes 4 (four) factors, namely Risk Profile, Governance,
26 2017 concerning Assessment of the Soundness Profitability (Earnings) and Capital (Capital).
Table of Company Health Level Position December 31, 2023 - 2022 Individually (Self Assessment )
Rating as of Rating as of
December 31, 2024 December 31, 2023
Rating Factors
Rating Rating
Risk Profile 2 2
Governance 2 2
Profitability (Earnings) 2 2
Capital (Capital) 2 2
Bank Soundness Level Rating Based on Risk 2 2
The bank’s health rating for December 2023 (Self 2024, Indonesia’s economy maintained strong growth
Assessment) is at composite rating 2 (PK2) which at 5.02% (yoy), positively contributing to household
reflects the bank’s generally healthy condition so that consumption, MSMEs, and the manufacturing sector.
it is considered capable of facing significant negative This was reflected in the Consumer Confidence Index
influences from changes in business conditions and (CCI) for Q4 2024, which remained robust at 127.7, and
other external factors. the Purchasing Manager Index (PMI) at 51.2 points,
indicating an expansion phase. Alongside the ongoing
Apart from that, assessing the level of soundness using economic growth, banking intermediation continued
rankings is also regulated in the Regulation of the Minister to improve, with strong resilience supporting growth. In
of State-Owned Enterprises of the Republic of Indonesia Q4 2024, national credit grew by 10.39% (yoy). Mortgage
Number PER-2/MBU/03/2023 concerning Guidelines growth was driven by government stimulus aimed at
for Governance and Significant Corporate Activities enhancing the housing sector‘s contribution to the
of State Owned Enterprises. The rating (rating) for the national economic recovery through the continuation
health level of State-Owned Enterprises as assessed by of subsidized housing programs. This sector was also
PT Pemeringkat Efek Indonesia (Pefindo) for the position prioritized under the Macroprudential Liquidity Incentive
December 31, 2023 is AAA so it is included in the “Very Policy (KLM). BTN’s Capital Adequacy Ratio (CAR) stood
Healthy” classification. The rating is determined based at a strong 18.15% as of December 2024, reflecting
on data and information from the Company and the sound risk management and financial health to support
Audited Financial Report as of December 31, 2024. The sustainable business operations.
Health Level Rating Report as referred to in more detail is
contained in the Attachment to this Annual Report. The government continues to support the ongoing
recovery process, to anticipate the impact of global
geopolitical risks on the economy through a mix of
Business Continuity Information fiscal and monetary policies. This is reflected in the
Government’s efforts to maintain national energy and
Potentially Influential Significant to food security amidst the surge in global energy and
Business Continuity commodity prices due to disruption of global supply
chains by increasing Government spending on energy
The momentum of national economic recovery subsidies and the budget for Social Assistance (Bansos)
continued despite global geopolitical tensions. In Q4 programs.
364 PT Bank Tabungan Negara (Persero) Tbk
Page 367
Annual
Report 2024
Besides, to support the ongoing recovery in the financial 2025. In the banking sector, credit growth and Third-Party
sector, Bank Indonesia reduced its BI 7-Day Reverse Repo Funds (TPF) are also improving, reflecting the recovery
Rate (BI7DRRR) to 5.75%, aiming to stabilize the Rupiah of economic activities. Mortgages (KPR) are expected to
amid global economic uncertainties. Bank Indonesia continue growing in 2025, supported by high demand and
also targets inflation growth in 2025 to remain controlled government-backed housing stimulus.
at 2.5%-3.5%.
Estimated macroeconomic assumptions for the following
Based on the matters described above, the Company years include stable economic growth, controlled inflation,
has strengths and competitive advantages as well as interest rates that are predicted to decline and healthy
continuous innovation in facing uncertain conditions credit growth, including mortgages and the real estate
which can be accommodated well by the Company. In sector. In addition, the rupiah exchange rate against
addition, by implementing various appropriate strategic the United States (US) dollar is expected to be stable,
initiatives, the Company’s business continuity can be well reflecting Bank Indonesia’s efforts to maintain exchange
maintained. So it can be concluded that the Company rate stability.
does not have any matters that have the potential to
have a significant impact on business continuity. BTN’s business will continue to focus on the housing sector
and related to housing, because the housing sector
Details of Problems Arising During the Fiscal remains a sector with high growth potential in line with
Year that Affect Business Activities increasing demand and the number of national backlogs.
Some of the data we have shows the following information:
In 2024, the Indonesian economy shows signs of strong a. The homeownership backlog of 9.9 million houses,
recovery. In Quarter II, economic growth reached 5.02% based on the 2024 BPS Socio-Economic Survey,
year-on-year (yoy), reflecting strengthening community presents a significant opportunity for absorption by
mobility and economic activity after the pandemic. In the banking sector.
addition, the global economy is also recovering, with b. Another challenge lies in Indonesia’s mortgage-to-
trading partner countries such as China and India GDP ratio, which stands at approximately 3%, still
experiencing strong growth. The manufacturing sector lower than other ASEAN countries. This indicates that
in Indonesia is stable, and banking credit is growing, there is still considerable potential in the housing
especially investment credit and Micro, Small and Medium sector that can be further optimized.
Enterprises (MSMEs). c. This substantial potential remains a primary focus
for BTN in capturing demand within the property
The real estate sector, especially housing, also grew sector and serves as one of the key drivers of its
thanks to Government stimulus, including the easing of business growth.
Loan-to-Value (LTV) and Financing-to-Value (FTV) ratios
for property. Bank Indonesia has increased the benchmark Responding to global uncertainty and the high interest
interest rate as a preemptive step to maintain the stability rate era throughout 2024, BTN faces several challenges
of the rupiah exchange rate and control inflation. Although and opportunities that will enable BTN to continue to
inflation remains under control, future interest rate policy perform positively.
will depend heavily on economic data and financial a. Throughout 2024, the BI 7-Day Reverse Repo Rate
markets. Bank Indonesia plans to maintain interest rates (BI7DRRR) stood at 6.00%, putting pressure on BTN’s
at a certain level until the first semester of 2024 and will interest expenses. Interest expenses grew by more
adjust them according to further developments. than 20% year-on-year but remained manageable.
It is expected that performance will improve in 2025,
supported by a projected reduction in the BI7DRRR to
In 2025, emerging economies such as Indonesia and India 5.75% in early 2025.
are expected to continue growing. In Indonesia, economic b. In addition to the increase in the benchmark interest
growth will be driven by improved domestic demand, rate, banking liquidity remained tight throughout
positive export performance, and support from the housing 2024, especially with the introduction of new Bank
sector fueled by government stimulus. However, risks Indonesia Open Market Operation instruments, such
remain, including global inflationary pressures, interest as Bank Indonesia Rupiah Securities (SRBI), SVBI, and
rate hikes by the Federal Reserve, and uncertainties in SUVBI. This liquidity tightening led to an increase in
global financial markets. The International Monetary Fund the Cost of Funds (COF), which caused a decline in
(IMF) projects Indonesia’s economic growth at 5.1% in the Net Interest Margin (NIM).
PT Bank Tabungan Negara (Persero) Tbk 365
Page 368
Management Discussion
and Analysis on Bank Performance
On the other hand, BTN continues to strive to answer c. Operational efficiency also improved, as reflected by
these challenges by continuing to maintain strong a 3.3% year-on-year reduction in operating expenses
performance and developing other business lines: (excluding interest) by December 2024.
a. As of December 2024, credit and financing grew d. BTN also actively managed its cost of funds through
solidly by 7.27% year-on-year, in line with the 2024 funding recomposition, shifting reliance away
guidance, and will continue to be boosted by from commercial deposits toward retail funds and
focusing on high-yield loan distribution. operational current accounts.
b. By December 2024, fee-based income grew by 21.91%
year-on-year, providing BTN with an additional
revenue stream to reduce dependence on interest
rate-sensitive assets.
Assessment Management of Items That Have a Significant Influence on Business
Continuity
Assessments were carried out based on various factors such as analysis of the strength of financial and non-
financial conditions as well as performance achievements. In addition, the Company carries out a Strength Weakness
Opportunity Threat (SWOT) analysis. In detail, the Company’s SWOT analysis is as follows:
• As a Government partner in housing • Dependence on high-cost Third Party
inclusion Funds
• Strong positioning in the housing • Has a high operating cost ratio
ecosystem
hs We compared to peers
ak
gt
• Have a wide network (+/- 700 KC and • Most savings accounts are dormant or
KCP) have low balances
n
ne
• Strong positioning in the Sharia • Mobile banking users who are active
Stre
business customers are still not maximized
ss
• BTN has brand awareness as a KPR • Payroll account penetration is low
distributing bank • Non-subsidized mortgage growth is
• BTN has comprehensive features lower than competitors
related to the housing ecosystem in • BTN’s credit disbursement SLA is slower
BTN Mobile than competitor banks
S W
T O
• Potential mortgage growth in line with
• Increase in the reference interest rate
the government’s 3 million housing unit
(BI rate)
program
• The development of fintech which
• Potential growth in the D2C (secondary
OPPO
has the potential to become a new
market) segment that provides higher
competitor in financing
yields
• Tight competition in competing for
TS
• Partnership opportunities in the
mortgage debtors
multifinance and insurance sectors
RT
UN
EA
• Decrease in margin due to high bank
ITIES R • Inorganic growth in the multifinance
TH
interest rates compared to KBMI 4
sector
banks
• Increasing digital interaction in the
• Global or national economic
banking system
uncertainty can affect demand for
• Growth in the Consumer and SME
mortgages
segments in Indonesia
366 PT Bank Tabungan Negara (Persero) Tbk
Page 369
Annual
Report 2024
Paying attention to the SWOT analysis, a Threat Opportunity Weakness Strength (TOWS) matrix is prepared as follows:
Strength Strategy
Strengths-Opportunities (SO-Strategy) Strengths-Threats (ST-Strategy)
• Utilizing the increasing transaction frequency • Leverage experience in annual short-term
in BTN Mobile to take advantage of digital initiatives to accelerate loan disbursement SLAs.
interaction opportunities. • Maintain Subsidized Mortgage market share by
• Optimizing credit process improvements to
improving the quality of existing loan portfolios.
capture secondary market opportunities (D2C)
with higher yields. Increase CASA ratio to offset high interest
• Expansion into the multifinance sector with the expense and declining margins
Maximize Opportunity
support of digital transformation that has been
carried out.
• Potential for KPR Distribution to support the
Minimize Risk
Government’s 3 million housing unit program.
• Cross-selling to existing customers for funding,
lending, and banking transaction products.
Weaknesses-Opportunities Weaknesses-Threats
• Increase payroll account penetration to support • Reduce dependence on high-cost third-party
low-cost TPF growth opportunities. funds by increasing payroll account penetration.
• Increase active mobile banking customers • Increase mobile banking and non-subsidized
mortgage customer penetration to avoid
to capture opportunities for using digital
takeover by competitors.
interactions. • Increase non-subsidized mortgage growth
• Optimize dormant accounts and low-balance to prevent further loss of market shore. By
accounts to support new sales model using this TOWS matrix, BTN can identify
opportunities. strategies that can help leverage strengths and
opportunities, while addressing weaknesses and
avoiding threats.
Recovery Strategy
BTN management has assessed the Bank’s ability to 3. Strengthening the Company’s positioning in the
continue its business continuity and believes that BTN housing business and developing potential in the
has the resources to continue its business in the future. housing ecosystem.
In addition, BTN management does not see any material 4. Good financial performance for the last 5 (five)
uncertainty that could raise significant doubts about years.
BTN ability to continue its business.
Assumptions Used by Management In Disclosure of the Governance
Conducting the Assessment Framework, Management and
Control of Taxation Aspects
The strategy that has been prepared based on SWOT
analysis will work well with the following assumptions: BTN committed to making its contribution to the country
1. Macroeconomic Assumptions at the end of 2024 are while fulfilling its obligations related to taxation. As a
projected: domestic corporate taxpayer, the Company is entitled to
a. GDP Growth of 5,1% (yoy). receive incentives from the Government in the form of tax
b. BI 7 Days Repo Interest Rate reference 5,5%. relief. This is in accordance with the provisions of Article
c. Inlfation Rate 3,2%. 17 paragraph (2b) of Law Number 7 of 1983 concerning
d. The Rupiah currency exchange rate is IDR16,000/ Income Tax as amended several times, most recently by
USD.. Law Number 7 of 2021 concerning Harmonization of Tax
e. Loan growth of 11,00% (yoy). Regulations which states that domestic taxpayers:
f. Growth in third party funds was 8,00% (yoy). 1. Formed as a Public Company;
2. The National Economic Recovery Program (PEN) 2. With the total number of paid-up shares traded on
program initiated by the Government to support the stock exchange in Indonesia at most slightly 40%;
business incentive policies, health programs, And
cooperative businesses, MSMEs and social protection. 3. Meet certain requirements.
PT Bank Tabungan Negara (Persero) Tbk 367
Page 370
Management Discussion
and Analysis on Bank Performance
Based on the above provisions, Bank Tabungan Negara 3. The process of managing, monitoring and reviewing
is eligible for a 3% lower rate than the 22% rate applied the implementation of tax obligations is carried out
in the 2022 tax year, resulting in a corporate income tax by the Taxation Department and regularly monitored
rate of 19% used in the tax calculation. by the Compliance, Internal Audit and External Audit
Divisions (Public Accounting Firm).
Tax payments are a manifestation of BTN obligations
and role in participating in supporting the rate of In its operational activities, BTN has implemented Good
national growth. BTN’s approach to taxes is based on Corporate Governance (GCG) which is carried out
compliance with all applicable tax regulations. BTN transparently and accountably in accordance with
has developed tax policies and strategies which are applicable regulations. The most important stakeholder
approved and reviewed by the Director of Finance in in tax matters is the government through the tax office.
reporting the Annual Corporate Income Tax SPT. This tax For this reason, BTN always maintains good relations
strategy is reviewed annually by the Director of Finance. with the tax authorities and never delays payment of
In implementing tax governance, BTN has established a tax obligations, which is one of BTN manifestations of
comprehensive and structured process, such as: maintaining harmony and obligations and complying
1. The official responsible for determining the tax with all applicable tax regulations. The company only
strategy is the Finance Director. operates in Indonesia, therefore tax reporting is only
2. Compliance with tax provisions is outlined through done for Indonesia. BTN has never made changes to its
Bank BTN’s tax policy accompanied by the fiscal year. The following is BTN contribution through tax
development of tax applications as well as regular payments in 2023-2024.
training and outreach.
Table of Contributions to the State (in IDR millions)
Type of Tax Years 2024 Years 2023
A TAX
1. Income Tax (PPh) 3,715,115 3,,123,042
2. Value Added Tax (VAT) and Luxury Goods Sales Tax (PPnBM) 25,904 24,307
3. Import/Export Duties, Customs, and Stamp Duty 9,353 1,897
4. Land and Building Tax for Plantations, Forestry, Mining (PBB P3) 13,434 365
5. Other Central Government Taxes (e.g., Carbon Tax) - -
6. Regional Taxes and Levies (PDRD), including PBB P2 (Urban and Rural) - -
Total Tax Contribution (Total A) 3,763,806 3,419,611
B NON-TAX STATE REVENUE (PNBP)
1. Dividends 420,119 365,409
2. Other Non-Tax State Revenue - -
Total PNBP Contribution (Total B) 420,119 365,409
Total Contribution to the State (Total A and B) 4,183,925 3,515,020
368 PT Bank Tabungan Negara (Persero) Tbk
Page 371
Annual
Report 2024
Response to Changes in Monetary before initiating rate cuts. This also caused government
Policy Direction bond yields to fluctuate between 6.4% and 7.2%
throughout 2024.
In 2024, global economic growth stood at around 3.1%,
down from 3.3% in 2023. Meanwhile, the inflation rate Amid the uncertainty and volatility in 2024, the Bank
continued to decline, reaching approximately 4.5%, responded to shifts in monetary policy direction by
compared to 6.7% in 2023. The decreasing inflation optimizing BTN’s performance through the following
triggered a wave of benchmark interest rate cuts by strategies:
central banks worldwide. 1. Reducing the duration of the securities portfolio by
switching long-tenor securities to short-tenor ones
The U.S. Federal Reserve began cutting the Fed Fund to minimize the impact of yield volatility on the
Rate (FFR) in September 2024 after it had reached its valuation of securities assets.
highest level in the past 20 years. This move became 2. Investing in short-tenor monetary operation
one of the key drivers of market optimism. However, instruments that offer optimal returns.
uncertainties persisted due to escalating geopolitical 3. Diversifying the investment portfolio by investing in
tensions between Iran-Israel and Russia-Ukraine in low-risk products, such as protected mutual funds.
the second half of the year, along with election years 4. Increasing the volume and frequency of transactions
in several countries. These factors contributed to the with clients, including securities and foreign
volatility of the Rupiah against the U.S. Dollar, reaching exchange transactions.
its highest point in the last two years (IDR16,400/USD). 5. Optimizing derivative transactions as a hedge
against exchange rate volatility.
The high volatility of the Rupiah exchange rate prompted
Bank Indonesia to raise the BI Rate to its peak of 6.25%
PT Bank Tabungan Negara (Persero) Tbk 369
Page 372
Management Discussion
and Analysis on Bank Performance
Spot Transactions and Derivative Transactions
Spot transactions and derivative transactions for the period 2023 - 2024 are as follows:
Table of Spot Transaction and DerivativeTransaction Report (in IDR million)
BANK
2024
No Transaction
Objectives Receivables and Derivative Liabilities
Notional
Value
Trading Hedging Bill Obligation
A. RELATED TO EXCHANGE RATES
1. Spot - - - - -
2. Forward - - - - -
3. Option
a. Selll - - - - -
b. Buy
4. Future - - - - -
5. Swap - - - - -
6. Others (CCS) 1,963,590 - - 102,843 -
B. RELATED TO INTEREST RATE
1. Forward - - - - -
2. Option
a. Selll - - - - -
b. Buy
3. Future - - - - -
4. Swap - - - - -
5. Others - - - - -
C. OTHERS - - - - -
Total 1,963,590 - - 102,843 -
370 PT Bank Tabungan Negara (Persero) Tbk
Page 373
Annual
Report 2024
BANK
2023
No Transaction
Objectives Receivables and Derivative Liabilities
Notional
Value
Trading Hedging Tagihan Kewajiban
A. RELATED TO EXCHANGE RATES
1. Spot - - - - -
2. Forward - - - - -
3. Option
a. Selll - - - - -
b. Buy
4. Future - - - - -
5. Swap - - - - -
6. Others (CCS) 1,878,434 64,516
B. RELATED TO INTEREST RATE
1. Forward - - - - -
2. Option
a. Selll - - - - -
b. Buy
3. Future - - - - -
4. Swap - - - - -
5. Others - - - - -
C. OTHERS - - - - -
Total 1,878,434 - - 64,516 -
PT Bank Tabungan Negara (Persero) Tbk 371
Page 374
Management Discussion
and Analysis on Bank Performance
Report on Additional Use of State projected increase in credit disbursement (distribution)
Capital Inclusion (PMN) of an average of 21.32% per year (2021-2025), the
realization of which will have an impact on the increase
Based on the Regulation of the Minister of State-Owned in Risk Weighted Assets (RWA) and Bank BTN’s capital
Enterprises of the Republic of Indonesia Number PER-2/ requirements. By paying attention to the provisions
MBU/03/2023 concerning Guidelines for Governance regarding capital adequacy, it is necessary to increase
and Significant Corporate Activities of State-Owned State Capital Participation (PMN) to improve the capital
Enterprises Additional State Capital Participation (PMN) structure while increasing business capacity through
was the separation of state assets from the state increasing core capital (Tier 1) so that the CAR ratio
revenue and expenditure budget used as capital of can be maintained in accordance with the provisions.
SOEs and/or Limited Liability Company and managed Considering the things above, it is hoped that additional
corporately. In accordance with the provisions in Article capital will amount to IDR4.13 trillion through a rights
110 PER-2/MBU/03/2023: issue/privatization mechanism with PMN of IDR2.48
(1) Additional State Capital Participation was carried trillion and a public portion of IDR1.65 trillion. With this
out with the aim of: rights issue/privatization, Bank BTN will be able to
a. Improving the capital structure of BUMN or maintain capital requirements above 16% until 2025
Limited Liability Company; and/or (above the Minimum Capital Requirement (KPMM)
b. ncreasing the business capacity of SOEs or required by OJK, was 15.40%) and prevent delusions of
Limited Liability Companies. State ownership in below 60%.
(2) Additional State Capital Participation to SOEs as
intended in paragraph (1) is used in the context of: Total Additional PMN Allocated
a. Carrying out Government assignments to SOEs;
b. Carry out restructuring and/or rescue of SOEs; Based on Government Regulation (PP) Number 48 of
and/or 2022 concerning Addition of State Capital of the Republic
c. Carry out SOEs business development of Indonesia to the Share Capital of the Company
(Persero) PT Bank Tabungan Negara Tbk. The total PMN
Basis for Use of PMN Funds given to Bank BTN is a maximum of IDR2,480,000,000,000
(two trillion four hundred and eighty billion rupiah). In
All additional PMN funds amounting to implementing the rights issue/privatization in 2022,
IDR2,479,999,977,600 (two trillion four hundred seventy- taking into account that the Government’s share
nine billion nine hundred ninety-nine million nine ownership remains at 60%, the number of shares
hundred seventy-seven thousand six hundred Rupiah) and the implementation price of the rights issue, the
plus the public portion of the rights issue proceeds used amount of PMN disbursed was IDR2,479,999,977,600,-
to strengthen the capital structure The Company in (two trillion four hundred seventy nine billion nine
increasing the distribution of credit and/or loans. hundred ninetynine million nine hundred seventy-seven
thousand six hundred Rupiah).
Strengthening the Company’s Capital
Explanation of the Use Progress of the Funds
In order to support increasing business capacity and
strengthening Bank BTN’s role in the housing ecosystem, Additional PMN funds through a rights issue/
there are several regulations being considered, one privatization mechanism with PMN amounting to
of which is capital regulations, where under normal IDR2,479,999,977,600,- (two trillion four hundred
conditions Bank BTN needs to maintain a Capital seventy-nine billion nine hundred ninety-nine million
Adequacy Ratio (CAR) of 15.40%. nine hundred seventy-seven thousand six hundred
Rupiah) plus funds from the public amounting to
Total Investment Required IDR1,653,333,318,000 (one trillion six hundred fiftythree
billion three hundred thirty-three million three hundred
Bank BTN projects the realization of housing unit eighteen thousand Rupiah) was all deposited into BTN
financing (KPR) of 1.3 million units in 2021 to 2025, with a Bank Capital after deducting the emission costs. So that
there is a change in the capital structure to be as follows:
372 PT Bank Tabungan Negara (Persero) Tbk
Page 375
Annual
Report 2024
Before Rights Issue After Rights Issue
Nominal Value IDR500,- per share Nominal Value IDR500,- per share
Number of Total Nominal Number of Total Nominal
Shares Value (IDR) Shares Value (IDR)
Authorized Capital 20,478,432,000 10,239,216,000,000 20,478,432,000 10,239,216,000,000
Total of Issued and Paid-up Capital
- Government of the
6,354,000,000 3,177,000,000,000 60.00% 8,420,666,648 4,210,333,324,000 60.00%
Republic of Indonesia
- Public 4,236,000,000 2,118,000,000,000 40.00% 5,613,777,765 2,806,888,882,500 40.00%
10,590,000,000 5,295,000,000,000 100.00% 14,034,444,413 7,017,222,206,500 100.00%
Remaining shares in 6,443,987,587 3,221,993,793,500
9,888,432,000 4,944,216,000,000
portfolio
*) Based on Amendment to Articles of Association Number 08, dated April 8 2021
The shares to be issued are the remaining shares in the portfolio, where The results of the implementation of the BBTN Rights Issue which were fully
there are 9,888,432,000 billion shares. absorbed brought the remaining shares in the portfolio to 6,443,987,587
shares
Planning and Follow-Up Constraints
Several obstacles to the implementation of the rights and several fund managers have completed all
issue/ privatization are as follows: transactions for trading corporate actions in 2022.
- The implementation process is quite strict for
approximately 3 (three) months, since the kick off However, this can be resolved with several follow-up
meeting of supporting institutions and/or professions actions from the privatization team, namely:
on October 3 2022. Considering that PMN uses the - Carry out strict monitoring of the implementation of
2022 APBN Budget, the rights issue process must be the rights issue/privatization progress on a weekly
carried out in 2022. basis and ensure that the implementation is carried
- The trading period runs from December 28, 2023 to out on time.
January 5, 2023. The trading period process which - Intense coordination with the securities sales team
runs at the end of 2022, causes BBTN rights issue regarding the interest of foreign investors who will
transactions to be quite quiet on the first 3 (three) exercise BBTN’s rights issue from the start.
trading days. This is because many foreign investors
PT Bank Tabungan Negara (Persero) Tbk 373
Page 376
INFORMATION ON CAPITAL AND RISK EXPOSURE BTN always considers financial objectives and capital adequacy against risk so that BTN’s business is in line with capital and liquidity requirements. 374 PT Bank Tabungan Negara (Persero) Tbk
Page 377
PT Bank Tabungan Negara (Persero) Tbk 375
Page 378
Information on Capital
and Risk Exposure
Depending on the business complexity, Bank has Pursuant to the Regulation of the Financial Services
managed 8 risk types, i.e. credit risk, liquidity risk, market Authority (POJK) No. 37/POJK.03/2019 regarding
risk, operational risk, legal risk, reputation risk, strategic risk Transparency and Publication of Bank Report Article 25
and compliance risk. This section, however, only discusses sub-article (1) b. Banks must report the information on risk
the risk management practices for credit risk, market risk exposure and capital to the financial statements and the
and operational risks. The elaboration of the other types of annual financial performance information.
risks is presented in the Chapter of Corporate Governance
of this Annual Report.
Credit
Risk
As part of credit risk management, Bank regularly improve the quality of centralized and objective credit
reviews and updates the Credit and Financing Policy decisions, and centralized monitoring. The Bank has
Guidelines for Bank credit and financing as part of also started implementing Portfolio Guidelines for
the risk assessment process. Credit Risk Exposure is Wholesale Credit and is being developed in the SME and
monitored from the credit granting process to the credit Commercial Shariah segments as a control for loan risk
maturity. Credit risk monitoring and control include concentration while prioritizing the principles of prudent
evaluating credit risk exposure against the credit and governance.
risk limit (Risk Appetite and Risk Tolerance). Board of
Directors always provides direction to all employees Currently, the Bank is working on further improvements to
so that in implementing performance achievements its credit scoring model. The management of consumer
and remain guided by Good Corporate Governance, credit debtors in Category 2 and Non-Performing Loans
aspects of Compliance with SOPs, applicable regulatory (NPL) is handled by the Consumer Collection and
provisions and continuously improving internal control, Remedial Unit, while the Commercial Asset Management
which is implemented by all business units. Unit is responsible for managing commercial credit.
Bank actively conducts Portfolio Quality Review Forums As part of the implementation of Pillar 1 of Basel II, the
with the Board of Directors, Divisions, CBC, Branch Bank implemented credit risk measurement using
Offices on a monthly basis or when requested at any the Standardized Approach in accordance with the
time as an effort to provide an up-to-date picture of provisions of OJK Circular Letter No. 24/SEOJK.03/2021
the position and quality of credit both bankwide and dated October 7, 2021 concerning the Calculation of
per credit segmentation. In terms of improving the Risk-Weighted Assets (RWA) for Credit Risk using the
credit granting decision-making process, Bank also Standard Approach for Commercial Banks which has
forms a credit committee through a Credit Committee been effectively implemented in January 2023.
Meeting accompanied by centralization of the credit
process. In the commercial credit segment, the Bank Descriptions related to disclosure of net receivables
has implemented the Commercial Banking Center based on region, net receivables based on remaining
(CBC) where the CBC functions as a centralization of contract term, net receivables based on economic
commercial credit processing. In the SME segment, sector, receivables and reserves based on region,
the Bank is also implementing SPU (Sentra Proses receivables and reserves based on economic sector, as
MSME) as an effort to improve the process and well as details of mutations of Allowance for Impairment
management of MSME loan to increase productivity, Losses (CKPN) are depicted in the following table:
376 PT Bank Tabungan Negara (Persero) Tbk
Page 379
Annual
Report 2024
Table of Disclosure of Net Receivables by Region as of December 31, 2024
and December 31, 2023 (in million IDR)
December 31, 2024
No Portfolio Category
Jawa Non-
Jabodetabek Sumatera Others** Total
Jabodetabek
1 Receivables from the Government 68,371,436 - - - 68,371,436
2 Receivables from Public Sector Entities 17,196,687 - - - 17,196,687
Receivables from Multilateral
3 Development Banks and - - - - -
International Institutions
4 Receivables from Banks 6,367,595 - 201 - 6,367,795
5 Receivables of a Covered Bond - - - - -
Receivables from Securities
6 Companies and Other Financial 24,195 - - - 24,195
Services Institutions
Receivables in the form of Securities/
7 Subordinated Receivables, Equity - - - - -
and Other Capital Instruments
8 House-backed Loan 118,332,500 75,754,252 44,629,531 47,459,038 286,175,321
9 Commercial Property-backed Loan 2,701,783 2,009,038 1,190,145 827,760 6,728,726
Loan for Land Acquisition, Land
10 11,104,214 4,175,102 1,498,692 1,177,467 17,955,476
Management and Construction
11 Employee/Retiree Loan 636,415 648,216 269,615 462,238 2,016,484
Receivables from MSE and Retail
12 2,503,639 2,069,198 1,221,528 2,438,639 8,233,004
Portfolio
13 Corporate Receivables 14,589,622 2,483,507 200,134 2,540,386 19,813,649
14 Matured Receivables 2,989,750 1,600,445 1,001,290 973,132 6,564,617
15 Other Assets 9,589,353 3,169,722 1,021,140 1,487,854 15,268,069
Total 254,407,188 91,909,481 51,032,276 57,366,516 454,715,460
* Others consist of Kalimantan, Sulawesi, Bali, Maluku and Papua
(in million IDR)
December 31, 2023
No Portfolio Category
Jawa Non-
Jabodetabek Sumatera Others** Total
Jabodetabek
1 Receivables from the Government 85,096,880 - - - 85,096,880
2 Receivables from Public Sector
16,258,302 - - - 16,258,302
Entities
3 Receivables from Multilateral
Development Banks and - - - - -
International Institutions
4 Receivables from Banks 3,585,265 - 200 - 3,585,466
5 Receivables of a Covered Bond - - - - -
PT Bank Tabungan Negara (Persero) Tbk 377
Page 380
Information on Capital
and Risk Exposure
December 31, 2023
No Portfolio Category
Jawa Non-
Jabodetabek Sumatera Others** Total
Jabodetabek
6 Receivables from Securities
Companies and Other Financial 21,184 - - - 21,184
Services Institutions
7 Receivables in the form of Securities/
Subordinated Receivables, Equity - - - - -
and Other Capital Instruments
8 House-backed Loan 84,877,769 96,502,378 39,892,528 47,431,589 268,704,264
9 Commercial Property-backed Loan 1,785,515 2,258,633 1,040,216 859,089 5,943,455
10 Loan for Land Acquisition, Land
6,875,579 6,682,179 1,119,130 1,193,983 15,870,870
Management and Construction
11 Employee/Retiree Loan 595,920 836,300 296,635 544,809 2,273,664
12 Receivables from MSE and Retail
1,617,979 1,991,362 873,226 2,266,915 6,749,481
Portfolio
13 Corporate Receivables 12,973,940 5,553,904 187,497 332,616 19,047,958
14 Matured Receivables 1,876,514 2,572,446 1,240,140 1,134,025 6,823,125
15 Other Assets 8,426,922 2,836,119 916,336 1,328,134 13,507,510
Total 223,991,770 119,233,322 45,565,907 55,091,160 443,882,159
* Others consist of Kalimantan, Sulawesi, Bali, Maluku and Papua
Table of Disclosure of Net Receivables by Remaining Contract
Period as of December 31, 2024 and December 31, 2023 (in million IDR)
December 31, 2024
No. Portfolio Category *)
>1 year to 3 >3 years Non-
<1 year >5 years Total
years" to 5 years" contractual
Receivables from the
1 12,657,810 19,401,019 811,079 35,501,528 - 68,371,436
Government
Receivables from Public
2 28,049 5,468,993 - 11,699,645 - 17,196,687
Sector Entities
Receivables from
Multilateral Development
3 - - - - - -
Banks and International
Institutions
4 Receivables from Banks - 6,367,595 - - 201 6,367,795
Receivables of a Covered
5 - - - - - -
Bond
Receivables from
Securities Companies and
6 - - - 24,195 - 24,195
Other Financial Services
Institutions
Receivables in the form of
Securities/Subordinated
7 - - - - - -
Receivables, Equity and
Other Capital Instruments
8 House-backed Loan 42,875 483,166 1,270,875 284,378,404 - 286,175,321
378 PT Bank Tabungan Negara (Persero) Tbk
Page 381
Annual
Report 2024
December 31, 2024
No. Portfolio Category *)
>1 year to 3 >3 years Non-
<1 year >5 years Total
years" to 5 years" contractual
Commercial Property-
9 1,191 766,753 3,660 5,957,122 - 6,728,726
backed Loan
Loan for Land Acquisition,
10 Land Management and 348,639 3,056,141 207,958 14,342,737 - 17,955,476
Construction
11 Employee/Retiree Loan - 1,733 - 2,014,751 - 2,016,484
Receivables from MSE and
12 64,289 711,309 51,494 7,405,912 - 8,233,004
Retail Portfolio
13 Corporate Receivables 9,119 4,721,383 8,400 15,074,747 - 19,813,649
14 Matured Receivables 10,108 23,477 5,965 6,525,067 - 6,564,617
15 Other Assets - - - - 15,268,069 15,268,069
Total 13,162,081 41,001,570 2,359,432 382,924,108 15,268,270 454,715,460
*) Referring to OJK Circular Letter No. 24/SEOJK.03/2021 concerning Calculation of Risk-Weighted Assets for Credit Risk Using the Standard Approach for
Commercial Banks.
(in million IDR)
December 31, 2023
No. Portfolio Category **)
>1 year to 3 >3 years Non-
<1 year >5 years Total
years" to 5 years" contractual
Receivables from the
1 15,151,432 269,429 261,182 69,336,021 78,815 85,096,880
Government
Receivables from Public
2 30,435 4,586,955 2,644,791 8,996,121 - 16,258,302
Sector Entities
Receivables from
Multilateral Development
3 - - - - - -
Banks and International
Institutions
4 Receivables from Banks - 3,585,265 - - 200 3,585,466
Receivables of a Covered
5 - - - - - -
Bond
Receivables from
Securities Companies and
6 - - 21,184 - - 21,184
Other Financial Services
Institutions
Receivables in the form of
Securities/Subordinated
7 - - - - - -
Receivables, Equity and
Other Capital Instruments
8 House-backed Loan 40,747 465,866 1,290,499 266,907,152 - 268,704,264
Commercial Property-
9 879 719,292 2,752,187 2,471,097 - 5,943,455
backed Loan
Loan for Land Acquisition,
10 Land Management and 170,165 2,910,150 5,153,943 7,636,612 - 15,870,870
Construction
PT Bank Tabungan Negara (Persero) Tbk 379
Page 382
Information on Capital
and Risk Exposure
December 31, 2023
No. Portfolio Category **)
>1 year to 3 >3 years Non-
<1 year >5 years Total
years" to 5 years" contractual
11 Employee/Retiree Loan - 2,967 36,190 2,234,508 - 2,273,664
Receivables from MSE and
12 13,846 659,235 1,462,900 4,613,500 - 6,749,481
Retail Portfolio
13 Corporate Receivables 244,092 5,289,012 842,170 12,672,684 - 19,047,958
Table of Disclosure of Net Receivables by Economic Sector as of December 31, 2024
and December 31, 2023
December 31, 2024
Receivables Receivables
Receivables from Multilateral from Securities
Receivables Receivables
from Public Development Receivables Companies and
No. Economic Sector *) from the of a Covered
Sector Banks and from Banks Other Financial
Government Bond"
Entities International Services
Institutions Institutions"
Agriculture, Hunting,
1 - - - - - -
Forestry
2 Fisheries - - - - - -
3 Mining and Excavation - - - - - -
4 Manufacturing - - - - - -
5 Electricity, Gas and Water - 6,893,483 - - - -
6 Construction 42,064,890 597,243 - - - -
7 Wholesale and Retail Trade - 3,259,631 - - - 24,195
Accommodation and Food
8 - - - - - -
Services
Transportation,
9 Warehousing and - 5,207,448 - - - -
Communication
10 Financial Intermediary 26,306,546 139,831 - 6,367,795 - -
Real Estate, Rental
11 Business and Corporate - - - - - -
Services
Public Administration,
12 Defense and Mandatory - - - - - -
Social Security
13 Education Services - - - - - -
Health Services and Social
14 - - - - - -
Works
Public and Sociocultural
Services, Entertainment
15 - - - - - -
and Other Personal
Services
380 PT Bank Tabungan Negara (Persero) Tbk
Page 383
Annual
Report 2024
December 31, 2023
No. Portfolio Category **)
>1 year to 3 >3 years Non-
<1 year >5 years Total
years" to 5 years" contractual
14 Matured Receivables 3,619 67,820 771,847 5,979,840 - 6,823,125
15 Other Assets - - - - 13,507,510 13,507,510
Total 15,655,214 18,555,991 15,236,892 380,847,535 13,586,526 443,882,159
**) Referring to OJK Circular Letter No. 42/SEOJK.03/2016 concerning Guidelines for Calculating Risk-Weighted Assets for Credit Risk Using the Standard
Approach.
(in million IDR)
Receivables
in the form of Loan for Land
Securities/ Acquisition, Receivables
Commercial
Subordinated Housebacked Land Employee/ from MSE Corporate Matured Other
Propertybacked
Receivables, Loan Management Retiree Loan" and Retail Receivables" Receivables Assets
Loan"
Equity and and Portfolio
Other Capital Construction
Instruments
- - - - - 132,337 - 619 -
- - - - - 7,533 - - -
- - - - - 3,031 2,608,392 4,310 -
- - - 20,406 - 107,229 3,684,835 15,020 -
- - - - - 16,096 83,114 1,680 -
- 1,891 1,701,964 17,422,040 - 110,033 3,917,205 532,076 -
- - 364,172 455,565 - 1,023,465 757,942 46,593 -
- - - - - 346,919 624,716 909 -
- - - - - 188,855 880,155 14,898 -
- - - - - 1,660 332,422 176 -
- - 3,968,819 57,465 - 166,627 4,984,505 241,118 -
- - - - - - - - -
- - - - - 7,614 188,290 2,236 -
- - - - - 35,807 561,496 - -
- - - - - 11,284 13,600 - -
PT Bank Tabungan Negara (Persero) Tbk 381
Page 384
Information on Capital
and Risk Exposure
Receivables Receivables
Receivables from Multilateral from Securities
Receivables Receivables
from Public Development Receivables Companies and
No. Economic Sector *) from the of a Covered
Sector Banks and from Banks Other Financial
Government Bond"
Entities International Services
Institutions Institutions"
16 Private Household Services - 1,099,051 - - - -
International Agencies and
17 Other Extra International - - - - - -
Agencies
18 Unspecified Activities - - - - - -
19 Non-Business Field - - - - - -
20 Others - - - - - -
Total 68,371,436 17,196,687 - 6,367,795 - 24,195
*) Referring to OJK Circular Letter No. 24/SEOJK.03/2021 concerning Calculation of Risk-Weighted Assets for Credit Risk Using the Standard Approach for
Commercial Banks.
December 31, 2023
Receivables Receivables
Receivables from Multilateral from Securities
Receivables Receivables
from Public Development Receivables Companies and
No. Economic Sector *) from the of a Covered
Sector Banks and from Banks Other Financial
Government" Bond
Entities International Services
Institutions Institutions
Agriculture, Hunting,
1 - 24,735 - - - -
Forestry
2 Fisheries - - - - - -
3 Mining and Excavation - - - - - -
4 Manufacturing - - - - - -
5 Electricity, Gas and Water - 4,062,541 - - - -
6 Construction 67,820,260 1,957,351 - - - -
7 Wholesale and Retail Trade - 5,403,719 - - - 21,184
Accommodation and Food
8 - - - - - -
Services
Transportation,
9 Warehousing and - 3,531,548 - - - -
Communication
10 Financial Intermediary 17,197,805 468,280 - 3,585,466 - -
Real Estate, Rental
11 Business and Corporate - - - - - -
Services
Public Administration,
12 Defense and Mandatory - - - - - -
Social Security
13 Education Services - - - - - -
382 PT Bank Tabungan Negara (Persero) Tbk
Page 385
Annual
Report 2024
Receivables
in the form of Loan for Land
Securities/ Acquisition, Receivables
Commercial
Subordinated Housebacked Land Employee/ from MSE Corporate Matured Other
Propertybacked
Receivables, Loan Management Retiree Loan" and Retail Receivables" Receivables Assets
Loan"
Equity and and Portfolio
Other Capital Construction
Instruments
- 246,109,364 645,630 - 2,016,484 4,927,797 1,176,977 5,498,187 -
- - - - - - - - -
- - 7,790 - - 954,954 - 12,011 -
- 40,064,066 40,352 - - 191,722 - 194,784 -
- - - - - 42 - - 15,268,069
- 286,175,321 6,728,726 17,955,476 2,016,484 8,233,004 19,813,649 6,564,617 15,268,069
(in million IDR)
Receivables
in the
"Loan for Land
form of
Acquisition, Receivables
Securities/ Commercial
Housebacked Land "Employee/ from MSE Corporate Matured Other
Subordinated Propertybacked
Loan Management Retiree Loan" and Retail Receivables Receivables Assets
Receivables, Loan
and Portfolio
Equity and
Construction"
Other Capital
Instruments
- - - - - 32,000 43,000 78 -
- - - - - 8,681 - - -
- - - - - 2,032 3,163,404 5,132 -
- - - 17,937 - 69,817 603,374 975 -
- - - - - 28,027 1,928,798 642 -
- 58,818 3,765,987 15,494,003 - 157,178 5,947,347 2,565,174 -
- - 446,324 229,725 - 1,184,037 854,437 49,739 -
- - - - - 187,829 236,189 26,361 -
- - - - - 38,501 596,845 1,306 -
- - - - - 1,698 1,354,244 614 -
- - 1,252,400 72,329 - 76,050 1,858,942 159,964 -
- - - - - - 1,488,237 - -
- - - - - 17,085 148,861 2,907 -
PT Bank Tabungan Negara (Persero) Tbk 383
Page 386
Information on Capital
and Risk Exposure
Receivables Receivables
Receivables from Multilateral from Securities
Receivables Receivables
from Public Development Receivables Companies and
No. Economic Sector *) from the of a Covered
Sector Banks and from Banks Other Financial
Government" Bond
Entities International Services
Institutions Institutions
Health Services and Social
14 - - - - - -
Works
Public and Sociocultural
Services, Entertainment
15 - - - - - -
and Other Personal
Services
16 Private Household Services - - - - - -
International Agencies and
17 Other Extra International - - - - - -
Agencies
18 Unspecified Activities - - - - - -
19 Non-Business Field - - - - - -
20 Others 78,815 810,128 - - - -
Total 85,096,880 16,258,302 - 3,585,466 - 21,184
**) Referring to OJK Circular Letter No. 24/SEOJK.03/2021 concerning Calculation of Risk-Weighted Assets for Credit Risk Using the Standard Approach for
Commercial Banks.
Table of Disclosure of Receivables and Reserves by Region as of December 31,2024
and December 31,2023
December 31,2024
No. Portfolio Category
Jawa Non-
Jabodetabek Sumatera Others**
Jabodetabek
1 Receivables 267,739,802 96,290,749 53,332,831 60,025,744
Receivables with credit risk
2 improvement and worsening 6,722,094 2,596,332 1,307,658 1,087,390
(Stage 2 and Stage 3)
a. Not yet due 4,472,749 1,805,700 746,964 599,238
b. Due 2,249,345 790,632 560,694 488,152
Allowance for Impairment Losses
3 4,740,367 2,125,929 935,177 887,238
- Individual
Allowance for Impairment Losses -
4 2,473,381 1,021,832 559,281 319,327
Collective
5 Written-off receivables 1,596,400 875,171 475,909 517,282
* Others consist of Kalimantan, Sulawesi, Bali, Maluku
384 PT Bank Tabungan Negara (Persero) Tbk
Page 387
Annual
Report 2024
Receivables
in the
"Loan for Land
form of
Acquisition, Receivables
Securities/ Commercial
Housebacked Land "Employee/ from MSE Corporate Matured Other
Subordinated Propertybacked
Loan Management Retiree Loan" and Retail Receivables Receivables Assets
Receivables, Loan
and Portfolio
Equity and
Construction"
Other Capital
Instruments
- - - - - 32,585 43,975 - -
- - - - - 58,206 89,962 3,932 -
- 217,374,674 376,690 - 9,298 28,251 - 3,165,825 -
- - - - - - - - -
- - - - - 124,587 458,492 991 -
- 34,009,517 35,897 56,877 - 163,255 - - -
- 17,261,254 66,156 - 2,264,366 4,539,662 231,851 839,484 13,507,510
- 268,704,264 5,943,455 15,870,870 2,273,664 6,749,481 19,047,958 6,823,125 13,507,510
(in million IDR)
December 31,2023
Jawa Non-
Total Jabodetabek Sumatera Others** Total
Jabodetabek
477,389,127 238,015,051 126,378,439 48,205,950 58,355,472 470,954,911
11,713,473 6,024,136 5,319,970 1,381,640 1,384,564 14,110,311
7,624,651 4,540,865 3,538,582 657,922 723,765 9,461,134
4,088,823 1,483,270 1,781,389 723,719 660,799 4,649,177
8,688,711 4,180,045 4,578,686 1,097,470 1,190,983 11,047,183
4,373,821 2,359,610 1,343,496 554,279 335,980 4,593,364
3,464,763 1,024,638 1,230,976 288,977 514,982 3,059,573
PT Bank Tabungan Negara (Persero) Tbk 385
Page 388
Information on Capital
and Risk Exposure
Table of Disclosure of Receivables and Reserves by Economic Sector as of December 31, 2024
and December 31, 2023
December 31, 2024
Impaired receivables Allowance for Allowance for
No. Economic Sector
Impairment Impairment
Receivables
Losses - Losses -
Not Yet Due Due
Individua Collective
1 Agriculture, Hunting, Forestry 181,457 714 148 190 672
2 Fisheries 10,302 129 - 15 112
3 Mining and Excavation 2,214,612 1,523 5,264 5,310 1,424
4 Manufacturing 3,330,991 32,110 10,676 11,163 35,550
5 Electricity, Gas and Water 7,558,835 11,011 1,459 1,609 10,911
6 Construction 31,191,047 2,013,399 1,709,739 2,335,040 1,725,177
7 Wholesale and Retail Trade 6,222,408 126,690 79,933 91,854 118,877
Accommodation and Food
8 1,004,355 5,210 430 592 5,048
Services
Transportation,
9 Warehousing and 6,661,637 188,719 14,668 80,134 121,664
Communication
10 Financial Intermediary 21,255,053 2,396 872 865 13,630
Real Estate, Rental Business
11 8,891,590 776,301 100,324 105,275 780,637
and Corporate Services
Public Administration,
12 Defense and Mandatory 5,294,286 - - - -
Social Security
13 Education Services 176,201 45,211 2,133 2,114 51,219
Health Services and Social
14 523,740 2,359 - - 2,842
Works
Public and Sociocultural
15 Services, Entertainment and 26,935 641 - 313 323
Other Personal Services
16 Private Household Services 338,063,048 4,415,847 2,157,403 5,284,036 1,237,821
International Agencies and
17 Other Extra International - 443 2,733 2,711 440
Agencies
18 Unspecified Activities 1,327,359 1,836 1,415 1,631 1,605
19 Non-Business Field 41,275,991 - - 727,211 152,390
20 Others 2,179,282 112 1,625 38,647 113,480
Total 477,389,127 7,624,651 4,088,823 8,688,711 4,373,821
386 PT Bank Tabungan Negara (Persero) Tbk
Page 389
Annual
Report 2024
(in million IDR)
December 31, 2023
Impaired receivables Allowance for Allowance for
Written-off Impairment Impairment Written-off
Receivables
claims Losses Losses - claims
Not Yet Due Due
- Individua Collective
1,346 104,807 82 61 62 353 711
13 8,531 78 - 50 29 -
1,746 1,838,446 71 5,917 5,917 109 -
10,693 568,210 1,057 5,108 5,749 578 -
871 5,006,747 4,745 502 502 4,853 2,211
1,371,725 34,410,098 3,657,557 2,598,159 4,578,642 1,917,858 871,721
39,569 5,266,181 7,387 39,458 40,977 9,501 12,678
3,117 484,604 197,451 28,320 29,044 196,761 631
16,298 4,356,782 233,831 1,129 7,182 227,778 3,948
670 20,084,700 293 11 68 8,170 -
17,621 3,663,500 804,534 108,894 506,186 417,043 8,136
- 1,180,000 6,120 - - 6,120 -
- 152,383 73,419 640 1,036 78,211 1,223
307 68,094 186 - - 736 760
- 130,203 637 70 197 510 409
1,750,226 214,100,606 4,115,658 1,431,516 4,482,671 1,064,503 1,125,415
478 - - - - - -
700 448,589 545 838 852 1,165 3,922
249,384 34,879,361 - - 734,042 330,526 224,726
- 144,203,071 357,482 428,556 654,007 328,560 803,083
3,464,763 470,954,911 9,461,134 4,649,177 11,047,183 4,593,364 3,059,573
PT Bank Tabungan Negara (Persero) Tbk 387
Page 390
Information on Capital
and Risk Exposure
Table of Details of Allowance for Impairment Losses (CKPN) Transfer as of December 31, 2024
and December 31, 2023
(in million IDR)
December 31, 2024 December 31, 2023
No. Description
Individual Collective Individual Collective
CKPN CKPN CKPN CKPN
1 CKPN opening balance 10,354,262 3,007,083 11,055,864 4,623,340
2 CKPN establishment (recovery) in current period (Net) 504,547 2,098,781 2,246,783 696,116
2.a. Establishment of CKPN in period the current period 442,190 1,269,371 2,246,783 696,116
2.b. CKPN recovery in current period 62,357 829,411 - -
The Disclosure of Net Receivables by Portfolio Category and Rating Scale and Counterparty Credit Risk is presented
below:
Table of Net Receivables by Portfolio Category and Rating Scale as of December 31, 2024
and December 31, 2023
December 31, 2024
Net Receivable
Rating Agency Long Term Rating
Standards and BBB+ to
AAA AA+ to AA- A+ to A-
Poor’s BBB-
BBB+ to
Fitch Ratings AAA AA+ to AA- A+ to A-
BBB-
No Portfolio Category
Baa1 to
Moody’s Aaa Aa1 to Aa3 A1 to A3
Baa3
PT Fitch Ratings AA+ (idn) to A+(idn) to BBB+(idn)
AAA (idn)
Indonesia AA- (idn) A-(idn) to BBB-(idn)
PT Pemeringkat idAA+ to idBBB+ to
idAAA idA+ to idA-
Efek Indonesia idAA- idBBB-
1 Receivables from the Government 100,145 - - -
2 Receivables from Public Sector Entities 5,032,253 550,209 840,995 8,416,253
Receivables from Multilateral Development
3 - - - -
Banks and International Institutions
4 Receivables from Banks - - 5,866,751 -
5 Receivables of a Covered Bond - - - -
Receivables from Securities Companies and
6 - - - -
Other Financial Services Institutions
Receivables in the form of Securities/
7 Subordinated Receivables, Equity and Other - - - -
Capital Instruments
8 House-backed Loan - - - -
9 Commercial Property-backed Loan - - - -
Loan for Land Acquisition, Land Management
10 - - - -
and Construction
11 Employee/Retiree Loan - - - -
388 PT Bank Tabungan Negara (Persero) Tbk
Page 391
Annual
Report 2024
December 31, 2024 December 31, 2023
No. Description
Individual Collective Individual Collective
CKPN CKPN CKPN CKPN
3 CKPN used in current period’s receivable write-off (2,170,099) (732,043) (2,255,465) (726,092)
4 Other establishment (recovery) in current period - - - -
CKPN closing balance 8,688,711 4,373,821 11,047,183 4,593,364
(in million IDR)
Net Receivable
Long Term Rating Short Term Rating
less than Less than
BB+ to BB- B+ to B- A-1 A-2 A-3
B- A-3
less than Less than
BB+ to BB- B+ to B- F1 to F1 F2 F3
B- F3
No Rating Total
less than Less than
Ba1 to Ba3 B1 to B3 p-1 p-2 p-3
B3 P-3
BB+(idn) to B+(idn) to less than F1+(idn) to Less than
F2(idn) F3(idn)
BB-(idn) B-(idn) B-(idn) F1(idn) F3(idn)
idBB+ to less than idA3 to id Less than
idB+ to idB- idA1 idA2
idBB- idB- A4 idA4
- - - - - - - 68,271,291 68,371,436
272,246 593,205 - - - - - 1,491,526 17,196,687
- - - - - - - - -
- - - 500,843 - - - 201 6,367,795
- - - - - - - - -
- - - 24,195 - - - - 24,195
- - - - - - - - -
- - - - - - - 286,175,321 286,175,321
- - - - - - - 6,728,726 6,728,726
- - - - - - - 17,955,476 17,955,476
- - - - - - - 2,016,484 2,016,484
PT Bank Tabungan Negara (Persero) Tbk 389
Page 392
Information on Capital
and Risk Exposure
Net Receivable
Rating Agency Long Term Rating
Standards and BBB+ to
AAA AA+ to AA- A+ to A-
Poor’s BBB-
BBB+ to
Fitch Ratings AAA AA+ to AA- A+ to A-
BBB-
No Portfolio Category
Baa1 to
Moody’s Aaa Aa1 to Aa3 A1 to A3
Baa3
PT Fitch Ratings AA+ (idn) to A+(idn) to BBB+(idn)
AAA (idn)
Indonesia AA- (idn) A-(idn) to BBB-(idn)
PT Pemeringkat idAA+ to idBBB+ to
idAAA idA+ to idA-
Efek Indonesia idAA- idBBB-
12 Receivables from MSE and Retail Portfolio - - - -
13 Corporate Receivables 4,734,401 526,045 7,085,316 -
14 Matured Receivables - - - -
15 Other Assets - - - -
*) Referring to OJK Circular Letter No. 24/SEOJK.03/2021 concerning Calculation of Risk-Weighted Assets for Credit Risk Using the Standard Approach for
Commercial Banks.
December 31, 2023
Net Receivable
Rating Agency Long Term Rating
Standards and BBB+ to
AAA AA+ to AA- A+ to A-
Poor’s BBB-
BBB+ to
Fitch Ratings AAA AA+ to AA- A+ to A-
BBB-
No Portfolio Category
Baa1 to
Moody’s Aaa Aa1 to Aa3 A1 to A3
Baa3
PT Fitch Ratings AA+ (idn) to A+(idn) to BBB+(idn)
AAA (idn)
Indonesia AA- (idn) A-(idn) to BBB-(idn)
PT Pemeringkat idAA+ to idBBB+ to
idAAA idA+ to idA-
Efek Indonesia idAA- idBBB-
1 Receivables from the Government - - - -
2 Receivables from Public Sector Entities 2,332,828 4,060,685 601,890 6,882,528
Receivables from Multilateral Development
3 - - - -
Banks and International Institutions
4 Receivables from Banks - - - -
5 Receivables of a Covered Bond - - - -
Receivables from Securities Companies and
6 - - - -
Other Financial Services Institutions
Receivables in the form of Securities/
7 Subordinated Receivables, Equity and Other - - - -
Capital Instruments
8 House-backed Loan - - - -
390 PT Bank Tabungan Negara (Persero) Tbk
Page 393
Annual
Report 2024
Net Receivable
Long Term Rating Short Term Rating
less than Less than
BB+ to BB- B+ to B- A-1 A-2 A-3
B- A-3
less than Less than
BB+ to BB- B+ to B- F1 to F1 F2 F3
B- F3
No Rating Total
less than Less than
Ba1 to Ba3 B1 to B3 p-1 p-2 p-3
B3 P-3
BB+(idn) to B+(idn) to less than F1+(idn) to Less than
F2(idn) F3(idn)
BB-(idn) B-(idn) B-(idn) F1(idn) F3(idn)
idBB+ to less than idA3 to id Less than
idB+ to idB- idA1 idA2
idBB- idB- A4 idA4
- - - - - - - 8,233,004 8,233,004
318,815 1,494,445 - - - - - 5,654,628 19,813,649
- - - - - - - 6,564,617 6,564,617
- - - - - - - 15,268,069 15,268,069
(in million IDR)
Net Receivable
Long Term Rating Short Term Rating
less than Less than
BB+ to BB- B+ to B- A-1 A-2 A-3
B- A-3
less than Less than
BB+ to BB- B+ to B- F1 to F1 F2 F3
B- F3
No Rating Total
less than Less than
Ba1 to Ba3 B1 to B3 p-1 p-2 p-3
B3 P-3
BB+(idn) to B+(idn) to less than F1+(idn) to Less than
F2(idn) F3(idn)
BB-(idn) B-(idn) B-(idn) F1(idn) F3(idn)
idBB+ to less than idA3 to id Less than
idB+ to idB- idA1 idA2
idBB- idB- A4 idA4
- - - - - - - 85,096,880 85,096,880
655,294 - 147,721 - - - - 1,577,356 16,258,302
- - - - - - - - -
- - - 1,233,550 - - - 2,351,916 3,585,466
- - - - - - - - -
- - - 21,184 - - - - 21,184
- - - - - - - - -
- - - - - - - 268,704,264 268,704,264
PT Bank Tabungan Negara (Persero) Tbk 391
Page 394
Information on Capital
and Risk Exposure
Net Receivable
Rating Agency Long Term Rating
Standards and BBB+ to
AAA AA+ to AA- A+ to A-
Poor’s BBB-
BBB+ to
Fitch Ratings AAA AA+ to AA- A+ to A-
BBB-
No Portfolio Category
Baa1 to
Moody’s Aaa Aa1 to Aa3 A1 to A3
Baa3
PT Fitch Ratings AA+ (idn) to A+(idn) to BBB+(idn)
AAA (idn)
Indonesia AA- (idn) A-(idn) to BBB-(idn)
PT Pemeringkat idAA+ to idBBB+ to
idAAA idA+ to idA-
Efek Indonesia idAA- idBBB-
9 Commercial Property-backed Loan - - - -
Loan for Land Acquisition, Land Management
10 - - - -
and Construction
11 Employee/Retiree Loan - - - -
12 Receivables from MSE and Retail Portfolio - - - -
13 Corporate Receivables - 5,118,942 2,949,560 -
14 Matured Receivables - - - -
15 Other Assets - - - -
*) Referring to OJK Circular Letter No. 24/SEOJK.03/2021 concerning Calculation of Risk-Weighted Assets for Credit Risk Using the Standard Approach for
Commercial Banks.
Counterparty Credit Risk, on the other hand, is divided
into 2 (two), which are:
1. Over the Counter Derivative Transaction 2. Repo Transaction
The Company has no derivative transactions as of Descriptions related to Repo Transactions are
December 31, 2024 and December 31, 2023 described in the following Table:
Table of Repo Transaction as of December 31, 2024 and December 31, 2023
(in million IDR)
December 31, 2024
Repo
No Portfolio Category *)
Interest Repo Net
ATMR
Rate Fair Liabilities Receivables
Value
1 Receivables from the Government - - 89,874 -
2 Receivables from Public Sector Entities - - - -
Receivables from Multilateral Development Banks and
3 - - - -
International Institutions
4 Receivables from Banks - - - -
5 Receivables from MSE and Retail Portfolio - - - -
6 Corporate Receivables - - - -
7 Total - - - -
Jumlah - - 89,874 -
*) Referring to OJK Circular Letter No. 24/SEOJK.03/2021 concerning Calculation of Risk-Weighted Assets for Credit Risk Using the Standard Approach for
Commercial Banks.
392 PT Bank Tabungan Negara (Persero) Tbk
Page 395
Annual
Report 2024
Net Receivable
Long Term Rating Short Term Rating
less than Less than
BB+ to BB- B+ to B- A-1 A-2 A-3
B- A-3
less than Less than
BB+ to BB- B+ to B- F1 to F1 F2 F3
B- F3
No Rating Total
less than Less than
Ba1 to Ba3 B1 to B3 p-1 p-2 p-3
B3 P-3
BB+(idn) to B+(idn) to less than F1+(idn) to Less than
F2(idn) F3(idn)
BB-(idn) B-(idn) B-(idn) F1(idn) F3(idn)
idBB+ to less than idA3 to id Less than
idB+ to idB- idA1 idA2
idBB- idB- A4 idA4
- - - - - - - 5,943,455 5,943,455
- - - - - - - 15,870,870 15,870,870
- - - - - - - 2,273,664 2,273,664
- - - - - - - 6,749,481 6,749,481
119,318 - 753,195 - - - - 10,106,943 19,047,958
- - - - - - - 6,823,125 6,823,125
- - - - - - - 13,507,510 13,507,510
(in million IDR)
December 31, 2023
Repo
No Portfolio Category *)
Interest Repo Net
ATMR
Rate Fair Liabilities Receivables
Value
1 Receivables from the Government - - - -
2 Receivables from Public Sector Entities - - - -
Receivables from Multilateral Development Banks and
3 - - - -
International Institutions
4 Receivables from Banks - - - -
5 Receivables from MSE and Retail Portfolio - - - -
6 Corporate Receivables - - - -
7 Total - - - -
Jumlah - - - -
*) Referring to OJK Circular Letter No. 24/SEOJK.03/2021 concerning Calculation of Risk-Weighted Assets for Credit Risk Using the Standard Approach for
Commercial Banks.
PT Bank Tabungan Negara (Persero) Tbk 393
Page 396
Information on Capital
and Risk Exposure
3. Reverse Repo Transaction
Description related to Reverse Repo Transactions are described in the following table:
Table of Reverse Repo Transactions
(in million IDR)
December 31, 2024
Allowance
No Portfolio Category *) for
Net
Impairment ATMR
Receivables Receivables
Losses
(CKPN)
1 Receivables from the Government 175,625 - 175,625
2 Receivables from Public Sector Entities - - -
Receivables from Multilateral Development Banks and
3 - - -
International Institutions
4 Receivables from Banks - - -
5 Receivables from MSE and Retail Portfolio - - -
6 Corporate Receivables - - -
Total 175,625 - 175,625 -
*) Referring to OJK Circular Letter No. 24/SEOJK.03/2021 concerning Calculation of Risk-Weighted Assets for Credit Risk Using the Standard Approach for
Commercial Banks.
In order to reduce credit risk exposure, Company pre- allocating credit exposure by industry sector to analyze
screens the debtors, requires debtors to meet the the concentration of credit risk. The Disclosure of Net
collateral requirement, analyzes and evaluates credit Receivables by Risk Weight after considering the Impact
eligibility and enters into legal loan commitments. of Credit Risk Mitigation (CRM) and the Disclosure of Net
Company has allocated the credit exposure by the Receivables and Credit Risk Mitigation (CRM) Techniques
geographic area in which they operate as well as are provided as follows:
Table of Net Receivables Based on Risk Weight after Taking into Account the Impact
of Credit Risk Mitigation as of December 31, 2024 and December 31, 2023
December 31, 2024
Net Receivables After Taking into Account the Impact of Credit Risk Mitigation
No. Portfolio Category *)
0% 20% 25% 30% 40% 50%
A BALANCE SHEET EXPOSURE
1 Receivables from the Government 68,076,703 - - - - -
Receivables from Public Sector
2 - 7,237,445 - - - 8,930,292
Entities
Receivables from Multilateral
3 Development Banks and - - - - - -
International Institutions
4 Receivables from Banks - 5,866,952 - - 500,843 -
5 Receivables of a Covered Bond - - - - - -
Receivables from Securities
6 Companies and Other Financial - - - - - -
Services Institutions
Receivables in the form of Securities/
7 Subordinated Receivables, Equity - - - - - -
and Other Capital Instruments
394 PT Bank Tabungan Negara (Persero) Tbk
Page 397
Annual
Report 2024
(in million IDR)
December 31, 2023
Allowance
No Portfolio Category *) for
Net
Impairment ATMR
Receivables Receivables
Losses
(CKPN)
1 Receivables from the Government 0 - 0
2 Receivables from Public Sector Entities - - -
Receivables from Multilateral Development Banks and
3 - - -
International Institutions
4 Receivables from Banks - - -
5 Receivables from MSE and Retail Portfolio - - -
6 Corporate Receivables - - -
Total 0 - 0 -
*) Referring to OJK Circular Letter No. 24/SEOJK.03/2021 concerning Calculation of Risk-Weighted Assets for Credit Risk Using the Standard Approach for
Commercial Banks.
(in million IDR)
Net Receivables After Taking into Account the Impact of Credit Risk Mitigation
Capital
RWA
Expense
60% 70% 75% 85% 100% 150% Other
- - - - - - - - -
- - - - 206,869 450,753 - 6,451,925 592,287
- - - - - - - - -
- - - - - - - 1,373,728 126,108
- - - - - - - - -
- - 19,585 - - - - 7,834 719
- - - - - - - - -
PT Bank Tabungan Negara (Persero) Tbk 395
Page 398
Information on Capital
and Risk Exposure
Net Receivables After Taking into Account the Impact of Credit Risk Mitigation
No. Portfolio Category *)
0% 20% 25% 30% 40% 50%
8 House-backed Loan - 29,344,757 24,315,490 97,527,442 80,820,419 52,701,608
9 Commercial Property-backed Loan - - - - - 234,050
Loan for Land Acquisition, Land
10 - - - - - -
Management and Construction
11 Employee/Retiree Loan - - - - - 2,016,478
Receivables from MSE and Retail
12 - - - - - -
Portfolio
13 Corporate Receivables - 3,252,808 - - - 4,381,220
14 Matured Receivables - - - - - 1,783,669
15 Other Assets 2,105,621 - - - - -
Total Balance Sheet Exposure 70,182,324 45,701,961 24,315,490 97,527,442 81,321,262 70,047,317
B EXPOSURE OF COMMITMENT/CONTINGENCY OBLIGATIONS IN ADMINISTRATIVE ACCOUNT TRANSACTIONS
1 Receivables from the Government 29,234 - - - - -
Receivables from Public Sector
2 - 158,712 - - - 198,034
Entities
Receivables from Multilateral
3 Development Banks and - - - - - -
International Institutions
4 Receivables from Banks - - - - - -
Receivables from Securities
5 Companies and Other Financial - - - - 4,610 -
Services Institutions
6 House-backed Loan - 750 573 2,695 2,334 1,274
7 Commercial Property-backed Loan - - - - - 4,852
Loan for Land Acquisition, Land
8 - - - - - -
Management and Construction
9 Employee/Retiree Loan - - - - - 6
Receivables from MSE and Retail
10 - - - - - -
Portfolio
11 Corporate Receivables - 797,718 - - - 1,074,449
12 Matured Receivables - - - - - 8
Total Administrative Account
29,234 957,180 573 2,695 6,944 1,278,623
Transactions Exposure
C EXPOSURE FROM COUNTERPARTY CREDIT RISK
1 Receivables from the Government 265,499 - - - - -
Receivables from Public Sector
2 - - - - - -
Entities
Receivables from Multilateral
3 Development Banks and - - - - - -
International Institutions
4 Receivables from Banks - - - - - -
Receivables from Securities
5 Companies and Other Financial - - - - - -
Services Institutions
Receivables from MSE and Retail
6 - - - - - -
Portfolio
7 Corporate Receivables - - - - - -
Total Counterparty Credit Risk
265,499 - - - - -
Exposure
*) Referring to OJK Circular Letter No. 24/SEOJK.03/2021 concerning Calculation of Risk-Weighted Assets for Credit Risk Using the Standard Approach for
Commercial Banks.
396 PT Bank Tabungan Negara (Persero) Tbk
Page 399
Annual
Report 2024
Net Receivables After Taking into Account the Impact of Credit Risk Mitigation
Capital
RWA
Expense
60% 70% 75% 85% 100% 150% Other
- 890,591 567,372 - - - - 76,735,061 7,044,279
18,090 - 474,846 1,451,121 - - 4,414,768 5,653,898 519,028
- - - - 10,938,343 6,383,698 - 19,964,586 1,832,749
- - - - - - - 1,008,239 92,556
- - 2,383,046 1,486,410 4,360,089 - - 7,139,768 655,431
- - - 2,236,859 5,161,988 924,093 - 9,939,515 912,447
- - - - 4,746,849 33,028 - 5,639,405 517,697
- - - - 13,084,857 77,591 - 13,201,243 1,211,874
18,090 890,591 3,444,850 5,174,391 38,498,995 7,869,163 4,414,768 147,115,202 13,505,175
- - - - - - - - -
- - - - 4,587 9,996 - 150,340 13,801
- - - - - - - - -
- - - - - - - - -
- - - - - - - 1,844 169
- 17 - - - - - 2,071 190
- - 9,383 30,086 - - 91,530 116,650 10,708
- - - - 363,643 269,791 - 768,331 70,533
- - - - - - - 3 -
- - 1,026 639 1,794 - - 3,075 282
- - - 548,567 1,209,323 226,624 - 2,712,309 248,990
- - - - - 1,063 - 1,599 147
- 17 10,409 579,292 1,579,348 507,475 91,530 3,756,222 344,820
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - -
PT Bank Tabungan Negara (Persero) Tbk 397
Page 400
Information on Capital
and Risk Exposure
December 31, 2023
Net Receivables After Taking into Account the Impact of Credit Risk Mitigation
No. Portfolio Category *)
0% 20% 25% 30% 40% 50%
A BALANCE SHEET EXPOSURE
1 Receivables from the Government 84,993,137 - - - - -
Receivables from Public Sector
2 - 7,640,801 - - - 7,279,886
Entities
Receivables from Multilateral
3 Development Banks and - - - - - -
International Institutions
4 Receivables from Banks - 2,702,861 - - 732,366 -
5 Receivables of a Covered Bond - - - - - -
Receivables from Securities
6 Companies and Other Financial - - - - - -
Services Institutions
Receivables in the form of
Securities/Subordinated
7 - - - - - -
Receivables, Equity and Other
Capital Instruments
8 House-backed Loan - 27,953,501 24,576,403 88,792,969 78,815,289 47,035,119
9 Commercial Property-backed Loan - - - - - 308,887
Loan for Land Acquisition, Land
10 - - - - - -
Management and Construction
11 Employee/Retiree Loan - - - - - 2,273,660
Receivables from MSE and Retail
12 - - - - - -
Portfolio
13 Corporate Receivables - 4,290,164 - - - 2,472,014
14 Matured Receivables - - - - - -
15 Other Assets 2,127,490 - - - - -
Total Balance Sheet Exposure 87,120,627 42,587,327 24,576,403 88,792,969 79,547,655 59,369,566
B EXPOSURE OF COMMITMENT/CONTINGENCY OBLIGATIONS IN ADMINISTRATIVE ACCOUNT TRANSACTIONS
1 Receivables from the Government 103,743 - - - - -
Receivables from Public Sector
2 - 271,826 - - - 262,774
Entities
Receivables from Multilateral
3 Development Banks and - - - - - -
International Institutions
4 Receivables from Banks - - - - - -
Receivables from Securities
5 Companies and Other Financial - - - - 450 -
Services Institutions
6 House-backed Loan - 472 403 1,575 1,492 821
7 Commercial Property-backed Loan - - - - - 7,955
Loan for Land Acquisition, Land
8 - - - - - -
Management and Construction
9 Employee/Retiree Loan - - - - - 4
Receivables from MSE and Retail
10 - - - - - -
Portfolio
11 Corporate Receivables - 889,687 - - - 512,642
12 Matured Receivables - - - - - -
Total Administrative Account
103,743 1,161,985 403 1,575 1,942 784,196
Transactions Exposure
398 PT Bank Tabungan Negara (Persero) Tbk
Page 401
Annual
Report 2024
(in million IDR)
Net Receivables After Taking into Account the Impact of Credit Risk Mitigation
Capital
RWA
Expense
60% 70% 75% 85% 100% 150% Other
- - - - - - - - -
- - - - 632,464 142,575 - 5,573,249 511,624
- - - - - - - - -
- - - - - - - 833,519 76,517
- - - - - - - - -
- - 20,734 - - - - 8,294 761
- - - - - - - - -
- 882,179 644,029 - - - - 70,123,127 6,437,303
19,734 - 524,042 1,921,544 - - 3,020,934 4,853,986 445,596
- - - - 13,310,791 1,722,657 - 15,879,575 1,457,745
- - - - - - - 1,136,830 104,361
- - 3,566,851 1,515,198 163,255 - 1,500,537 4,567,635 419,309
- - - 1,161,199 7,267,962 631,250 - 10,209,652 937,246
- - - - 3,806,223 3,012,844 - 8,325,489 764,280
- - - - 11,302,430 77,591 - 11,418,815 1,048,247
19,734 882,179 4,755,656 4,597,941 36,483,126 5,586,916 4,521,472 132,930,171 12,202,989
- - - - - - - - -
- - - - 22,829 5,146 - 216,301 19,856
- - - - - - - - -
- - - - - - - - -
- - - - - - - 180 17
- 12 - - - - - 1,260 116
- - 13,079 49,484 - - 77,796 124,384 11,418
- - - - 739,001 98,421 - 885,788 81,315
- - - - - - - 2 -
- - 1,948 872 - - 820 2,443 224
- - - 240,808 1,451,323 130,908 - 2,254,449 206,958
- - - - - 4,058 - 6,087 559
- 12 15,027 291,164 2,213,153 238,533 78,615 3,490,895 320,463
PT Bank Tabungan Negara (Persero) Tbk 399
Page 402
Information on Capital
and Risk Exposure
Net Receivables After Taking into Account the Impact of Credit Risk Mitigation
No. Portfolio Category *)
0% 20% 25% 30% 40% 50%
C EXPOSURE FROM COUNTERPARTY CREDIT RISK
1 Receivables from the Government 0 - - - - -
Receivables from Public Sector
2 - - - - - -
Entities
Receivables from Multilateral
3 Development Banks and - - - - - -
International Institutions
4 Receivables from Banks - - - - - -
Receivables from Securities
5 Companies and Other Financial - - - - - -
Services Institutions
Receivables from MSE and Retail
6 - - - - - -
Portfolio
7 Corporate Receivables - - - - - -
Total Counterparty Credit Risk
0 - - - - -
Exposure
*) Referring to OJK Circular Letter No. 24/SEOJK.03/2021 concerning Calculation of Risk-Weighted Assets for Credit Risk Using the Standard Approach for
Commercial Banks.
Table of Net Claims and Credit Risk Mitigation Techniques as of December 31, 2024
and December 31, 2023
(in million IDR)
December 31, 2024
Guaranteed portion
No. Portfolio Category *)
Net Unguaranteed
Receivables Credit portion
Collateral Guarantee Other
Insurance
A ASSET EXPOSURE IN THE STATEMENT OF FINANCIAL POSITION, EXCEPT SECURITIZATION EXPOSURE
1 Receivables from the Government 68,076,703 - - - - 68,076,703
2 Receivables from Public Sector Entities 16,825,358 687,416 - - - 16,137,942
Receivables from Multilateral
3 Development Banks and - - - - - -
International Institutions
4 Receivables from Banks 6,367,795 - - - - 6,367,795
5 Receivables of a Covered Bond - - - - - -
Receivables from Securities
6 Companies and Other Financial 19,585 - - - - 19,585
Services Institutions
Receivables in the form of Securities/
7 Subordinated Receivables, Equity - - - - - -
and Other Capital Instruments
8 House-backed Loan 286,167,679 - - 150,233,327 - 135,934,352
9 Commercial Property-backed Loan 6,592,875 43,364 - - - 6,549,511
Loan for Land Acquisition, Land
10 17,322,041 366,203 - - - 16,955,838
Management and Construction
11 Employee/Retiree Loan 2,016,478 - - - - 2,016,478
Receivables from MSE and Retail
12 8,229,546 265,472 - 130,820 - 7,833,254
Portfolio
13 Corporate Receivables 15,956,968 931,803 - - - 15,025,165
14 Matured Receivables 6,563,546 - - 61,026 - 6,502,520
400 PT Bank Tabungan Negara (Persero) Tbk
Page 403
Annual
Report 2024
Net Receivables After Taking into Account the Impact of Credit Risk Mitigation
Capital
RWA
Expense
60% 70% 75% 85% 100% 150% Other
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - -
December 31, 2024
Guaranteed portion
No. Portfolio Category *)
Net Unguaranteed
Receivables Credit portion
Collateral Guarantee Other
Insurance
15 Other Assets 15,268,069 - - - - 15,268,069
Total Balance Sheet Exposure 2,294,258 - 150,425,173 - 296,687,212
449,406,643
B EXPOSURE OF COMMITMENT OBLIGATIONS OR CONTINGENT OBLIGATIONS IN TRA, EXCEPT SECURITIZATION EXPOSURE
1 Receivables from the Government 29,234 - - - - 29,234
2 Receivables from Public Sector Entities 371,328 - - - - 371,328
Receivables from Multilateral
3 Development Banks and - - - - - -
International Institutions
4 Receivables from Banks - - - - - -
Receivables from Securities
5 Companies and Other Financial 4,610 - - - - 4,610
Services Institutions
6 House-backed Loan 7,642 - - - - 7,642
7 Commercial Property-backed Loan 135,852 - - - - 135,852
Loan for Land Acquisition, Land
8 633,435 - - - - 633,435
Management and Construction
9 Employee/Retiree Loan 6 - - - - 6
Receivables from MSE and Retail
10 3,459 - - - - 3,459
Portfolio
11 Corporate Receivables 3,856,681 - - - - 3,856,681
12 Matured Receivables 1,071 - - - - 1,071
Total Administrative Account
5,043,318 - - - - 5,043,318
Transactions Exposure
PT Bank Tabungan Negara (Persero) Tbk 401
Page 404
Information on Capital
and Risk Exposure
December 31, 2024
Guaranteed portion
No. Portfolio Category *)
Net Unguaranteed
Receivables Credit portion
Collateral Guarantee Other
Insurance
C EXPOSURE RESULTING IN COUNTERPARTY CREDIT RISK
1 Receivables from the Government 265,499 - - - - 265,499
2 Receivables from Public Sector Entities - - - - - -
Receivables from Multilateral
3 Development Banks and - - - - - -
International Institutions
4 Receivables from Banks - - - - - -
Receivables from Securities
5 Companies and Other Financial - - - - - -
Services Institutions
Receivables from MSE and Retail
6 - - - - - -
Portfolio
7 Corporate Receivables - - - - - -
Total Counterparty Credit Risk
265,499 - - - - 265,499
Exposure
*) Referring to OJK Circular Letter No. 24/SEOJK.03/2021 concerning Calculation of Risk-Weighted Assets for Credit Risk Using the Standard Approach for
Commercial Banks.
(in million IDR)
December 31, 2023
Guaranteed portion
No. Portfolio Category *)
Net Unguaranteed
Receivables Credit portion
Collateral Guarantee Other
Insurance
A ASSET EXPOSURE IN THE STATEMENT OF FINANCIAL POSITION, EXCEPT SECURITIZATION EXPOSURE
1 Receivables from the Government 84,993,137 - - - - 84,993,137
Receivables from Public Sector
2 15,695,726 - - - - 15,695,726
Entities
Receivables from Multilateral
3 Development Banks and - - - - - -
International Institutions
4 Receivables from Banks 3,435,227 - - - - 3,435,227
5 Receivables of a Covered Bond - - - - - -
Receivables from Securities
6 Companies and Other Financial 20,734 - - - - 20,734
Services Institutions
Receivables in the form of Securities/
7 Subordinated Receivables, Equity - - - - - -
and Other Capital Instruments
8 House-backed Loan 268,699,489 - - - 117,842,195
150,857,293
9 Commercial Property-backed Loan 5,795,141 67,626 - - - 5,727,515
Loan for Land Acquisition, Land
10 15,033,448 - - - - 15,033,448
Management and Construction
11 Employee/Retiree Loan 2,273,660 - - - - 2,273,660
402 PT Bank Tabungan Negara (Persero) Tbk
Page 405
Annual
Report 2024
December 31, 2023
Guaranteed portion
No. Portfolio Category *)
Net Unguaranteed
Receivables Credit portion
Collateral Guarantee Other
Insurance
Receivables from MSE and Retail
12 6,745,842 234,029 - 233,829 - 6,277,984
Portfolio
13 Corporate Receivables 15,822,590 155,178 - - - 15,667,412
14 Matured Receivables 6,819,067 - - - - 6,819,067
15 Other Assets 13,507,510 - - - - 13,507,510
Total Balance Sheet Exposure 438,841,570 456,833 - 151,091,122 - 287,293,615
B EXPOSURE OF COMMITMENT OBLIGATIONS OR CONTINGENT OBLIGATIONS IN TRA, EXCEPT SECURITIZATION EXPOSURE
1 Receivables from the Government 103,743 - - - - 103,743
Receivables from Public Sector
2 562,576 - - - - 562,576
Entities
Receivables from Multilateral
3 Development Banks and - - - - - -
International Institutions
4 Receivables from Banks - - - - - -
Receivables from Securities
5 Companies and Other Financial 450 - - - - 450
Services Institutions
6 House-backed Loan 4,776 - - - - 4,776
7 Commercial Property-backed Loan 148,313 - - - - 148,313
Loan for Land Acquisition, Land
8 837,422 - - - - 837,422
Management and Construction
9 Employee/Retiree Loan 4 - - - - 4
Receivables from MSE and Retail
10 3,640 - - - - 3,640
Portfolio
11 Corporate Receivables 3,225,368 - - - - 3,225,368
12 Matured Receivables 4,058 - - - - 4,058
Total Administrative Account
4,890,349 - - - - 4,890,349
Transactions Exposure
C EXPOSURE RESULTING IN COUNTERPARTY CREDIT RISK
1 Receivables from the Government 0 - - - - 0
Receivables from Public Sector
2 - - - - - -
Entities
Receivables from Multilateral
3 Development Banks and - - - - - -
International Institutions
4 Receivables from Banks - - - - - -
Receivables from Securities
5 Companies and Other Financial - - - - - -
Services Institutions
Receivables from MSE and Retail
6 - - - - - -
Portfolio
7 Corporate Receivables - - - - - -
Total Counterparty Credit Risk
0 - - - - 0
Exposure
*) Referring to OJK Circular Letter No. 24/SEOJK.03/2021 concerning Calculation of Risk-Weighted Assets for Credit Risk Using the Standard Approach for
Commercial Banks.
PT Bank Tabungan Negara (Persero) Tbk 403
Page 406
Information on Capital
and Risk Exposure
Credit Risk: Asset Securitization
Company’s objective in conducting securitization is to transform illiquid assets into liquid assets in the form of tradable
securities (called Asset Backed Securities - ABS or Asset Backed Securities - EBA). Securitization of mortgage Assets
is carried out by the Company, among others, as an effort to mitigate maturity mismatches, alternative sources
of mortgage funding and increase lending capacity. The functions carried out by the Company in securitization
transactions are as Originator, Servicer and Investor. In the securitization of mortgage claims (collection of claims),
the Company has sold collections of claims to third parties (mortgage securitization).
Table of Asset Securitization, Rating and Rating Agency
"Securization
No. Total Nominal (IDR) KPR Unit Class Avg Tenor EBA (yr)
Transactions"
A1
1 EBA SP 3 / SPBTN3 1,000,000,000,000
A2
A1
2 EBA SP 4 / SPBTN4 2,000,000,000,000
A2
A1
3 EBA SP 5 / SPBTN5 2,000,000,000,000
A2
4 EBA SP 6 / SPBTN6 631,000,543,015
5 EBA SP 7 / SPBTN7 500,000,001,416
6 EBA SP 8 / SPBTN8 600,000,020,055
TOTAL IDR6,731,000,564,486 -
11,280 A1 2.00
1 EBA-SP SMF-BTN 02 IDR1,000,000,000,000 A2 5.00
B
11,237 A1 2.00
2 EBA-SP SMF-BTN 03 IDR1,000,000,000,000 A2 4.00
B
18,728 A1 2.00
3 EBA-SP SMF-BTN 04 IDR2,000,000,000,000 A2 5.00
B
16,476 A1 3.00
A2 5.00
4 EBA-SP SMF-BTN 05 IDR2,000,000,000,000
M 8.00
B
7,721 A 3.00
5 EBA-SP SMF-BTN 06 IDR631,000,543,015
B
6,188 A 3.00
6 EBA-SP SMF-BTN 07 IDR500,000,001,416 B
404 PT Bank Tabungan Negara (Persero) Tbk
Page 407
Annual
Report 2024
For the securitization of KPR (asset-backed securities), the Company recognizes it as a sale of the KPR receivable
because the Company has transferred the risks and benefits of ownership to a third party. Therefore, on the effective
date of the securitization the Company derecognises the collection of claims. The description regarding the calculation
of Credit Risk RWA using the standard approach is as follows:
Transaction
Nominal Class (IDR) Maturity Date Average Life Class A Coupon Pefindo Rating
Date
IDR200,000,000,000 A1=8.00%
April 28, 2017 July 7, 2029 7.78 id.AAA
IDR713,000,000,000 A2=8.40%
IDR700,000,000,000 A1=7.00%
February 28, 2018 May 7, 2029 7.03 id.AAA
IDR1,124,000,000,000 A2=7.50%
IDR574,000,000,000 A1=8.50%
November 27, 2019 May 7, 2032 9.09 id.AAA
IDR1,142,000,000,000 A2=8.75%
IDR576,734,000,000 December 30, 2020 July 7, 2032 6.08 A=6.50% id.AAA
IDR452,500,000,000 December 23, 2022 January 7, 2034 5.66 A=7.70% id.AAA
IDR544,800,000,000 September 26, 2023 August 7, 2035 7.44 A=6.65% id.AAA
IDR6,027,034,000,000
IDR400,000,000,000 A1=8.15%
idAAA
IDR513,000,000,000 October 31, 2016 June 7, 2027 7.05 A1=8.75%
IDR87,000,000,000
IDR200,000,000,000 A1=8.00%
idAAA
IDR713,000,000,000 April 28, 2017 July 7, 2029 7.78 A2=8.40%
IDR87,000,000,000
IDR700,000,000,000 A1=7.00%
idAAA
IDR1,124,000,000,000 February 28, 2018 May 7, 2029 7.03 A2=7.50%
IDR176,000,000,000
IDR574,000,000,000 A1=8.50%
idAAA
IDR1,142,000,000,000 A2=8.75%
November 27, 2019 May 7, 2032 9.09
IDR24,000,000,000 M=10.40% idA
IDR260,000,000,000
IDR576,734,000,000 idAAA
December 30, 2020 July 7, 2032 6.08 6.50%
IDR54,266,543,015
IDR452,500,000,000
December 23, 2022 January 7, 2034 5.66 7.70% idAAA
IDR47,500,001,416
PT Bank Tabungan Negara (Persero) Tbk 405
Page 408
Information on Capital
and Risk Exposure
"Securization
No. Total Nominal (IDR) KPR Unit Class Avg Tenor EBA (yr)
Transactions"
4,340 A 4.00
7 EBA-SP SMF-BTN08 IDR600,000,020,055
B
TOTAL IDR21,193,001,693,458 75,970
Table of Securitization Transaction as of December 31, 2024 and December 31, 2023
December 31, 2024
Impaired securitized assets
No. Securitization Exposure Profit/Loss from
Securitized
securitization
assets value
Due Not yet due activities
1 The Bank acts as Original Creditor - - - -
House-backed Receivables 13,386,868 - - -
2 The Bank acts as Supporting Credit Provider - - - -
a. First risk bearing facility - - - -
b. Second risk bearing facility - - - -
3 The Bank acts as Liquidity Facility Provider - - - -
4 The Bank acts as Service Provider 13,386,868 - - -
5 The Bank acts as Custodian Bank - - - -
6 The Bank acts as Financier - - - -
a. Senior tranche - - - -
House-backed Receivables - - - -
b. Junior tranche - - - -
House-backed Receivables - - - -
Table of Summary of Securitization Activities - The Company acts as Original
Creditor as of December 31, 2024 and December 31, 2023 (in million IDR)
December 31, 2024
No. Underlying Asset *)
Securitized Profit (Loss)
assets value from Sales
1 Receivables from the Government - -
2 Receivables from Public Sector Entities - -
Receivables from Multilateral Development Banks
3 - -
and International Institutions
4 Receivables from Banks - -
5 Receivables of a Covered Bond - -
Receivables from Securities Companies and Other
6 - -
Financial Services Institutions
Receivables in the form of Securities/Subordinated
7 - -
Receivables, Equity and Other Capital Instruments
8 House-backed Loan 13,386,868 -
406 PT Bank Tabungan Negara (Persero) Tbk
Page 409
Annual
Report 2024
Transaction
Nominal Class (IDR) Maturity Date Average Life Class A Coupon Pefindo Rating
Date
IDR544,800,000,000 September 26, 2023 August 7, 2035 7.44 6.65% idAAA
IDR55,200,020,055
IDR19,785,068,564,486
(in million IDR)
December 31, 2024 December 31, 2023
Impaired securitized assets Profit/
Capital Securitized Loss from Capital
RWA RWA
Deduction assets value securitization Deduction
Not yet due activities
- - - - - - - -
194,108 - 12,286,868 - - - 226,678 -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - 12,286,868 - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
December 31, 2024
No. Underlying Asset *)
Securitized Profit (Loss)
assets value from Sales
9 Commercial Property-backed Loan - -
Loan for Land Acquisition, Land Management and
10 - -
Construction
11 Employee/Retiree Loan - -
12 Receivables from MSE and Retail Portfolio - -
13 Corporate Receivables - -
14 Other Assets - -
Total 13,386,868 -
*) Referring to OJK Circular Letter No. 24/SEOJK.03/2021 concerning Calculation of Risk-Weighted Assets for Credit Risk Using the Standard Approach for
Commercial Banks.
PT Bank Tabungan Negara (Persero) Tbk 407
Page 410
Information on Capital
and Risk Exposure
(in million IDR)
December 31, 2023
No. Underlying Asset *)
Securitized Profit (Loss)
assets value from Sales
1 Receivables from the Government - -
2 Receivables from Public Sector Entities - -
Receivables from Multilateral Development Banks
3 - -
and International Institutions
4 Receivables from Banks - -
5 Receivables of a Covered Bond - -
Receivables from Securities Companies and Other
6 - -
Financial Services Institutions
Receivables in the form of Securities/Subordinated
7 - -
Receivables, Equity and Other Capital Instruments
8 House-backed Loan 12,286,868 -
9 Commercial Property-backed Loan - -
Loan for Land Acquisition, Land Management and
10 - -
Construction
11 Employee/Retiree Loan - -
12 Receivables from MSE and Retail Portfolio - -
13 Corporate Receivables - -
14 Other Assets - -
Total 12,286,868 -
*) Referring to OJK Circular Letter No. 24/SEOJK.03/2021 concerning Calculation of Risk-Weighted Assets for Credit Risk Using the Standard Approach for
Commercial Banks.
Table of Balance Sheet Asset Exposure as of December 31, 2024 and December 31, 2023 (in million IDR)
December 31, 2024
No. Portfolio Category *)
Net Receivables RWA before CRM RWA after CRM
1 Receivables from the Government 68,076,703 - -
2 Receivables from Public Sector Entities 16,825,358 6,795,633 6,451,925
Receivables from Multilateral Development Banks
3 - - -
and International Institutions
4 Receivables from Banks 6,367,795 1,373,728 1,373,728
5 Receivables of a Covered Bond - - -
Receivables from Securities Companies and Other
6 19,585 7,834 7,834
Financial Services Institutions
Receivables in the form of Securities/Subordinated
7 - - -
Receivables, Equity and Other Capital Instruments
8 House-backed Loan 286,167,679 100,933,971 76,735,061
408 PT Bank Tabungan Negara (Persero) Tbk
Page 411
Annual
Report 2024
December 31, 2024
No. Portfolio Category *)
Net Receivables RWA before CRM RWA after CRM
9 Commercial Property-backed Loan 6,592,875 5,690,757 5,653,898
Loan for Land Acquisition, Land Management and
10 17,322,041 20,513,890 19,964,586
Construction
11 Employee/Retiree Loan 2,016,478 1,008,239 1,008,239
12 Receivables from MSE and Retail Portfolio 8,229,546 7,410,823 7,139,768
13 Corporate Receivables 15,956,968 11,290,630 9,939,515
14 Matured Receivables 6,563,546 5,688,226 5,639,405
15 Other Assets 15,268,069 13,201,243 13,201,243
Total 449,406,643 173,914,973 147,115,202
*) Referring to OJK Circular Letter No. 24/SEOJK.03/2021 concerning Calculation of Risk-Weighted Assets for Credit Risk Using the Standard Approach for
Commercial Banks.
(in million IDR)
December 31, 2023
No. Portfolio Category *)
Net Receivables RWA before CRM RWA after CRM
1 Receivables from the Government 84,993,137 - -
2 Receivables from Public Sector Entities 15,695,726 6,014,430 5,573,249
3 Receivables from Multilateral Development Banks
- - -
and International Institutions
4 Receivables from Banks 3,435,227 833,519 833,519
5 Receivables of a Covered Bond - - -
6 Receivables from Securities Companies and Other
20,734 8,294 8,294
Financial Services Institutions
7 Receivables in the form of Securities/Subordinated
- - -
Receivables, Equity and Other Capital Instruments
8 House-backed Loan 268,699,489 94,516,914 70,123,127
9 Commercial Property-backed Loan 5,795,141 4,911,469 4,853,986
10 Loan for Land Acquisition, Land Management and
15,033,448 15,894,777 15,879,575
Construction
11 Employee/Retiree Loan 2,273,660 1,136,830 1,136,830
12 Receivables from MSE and Retail Portfolio 6,745,842 4,801,554 4,567,635
13 Corporate Receivables 15,822,590 11,295,896 10,209,652
14 Matured Receivables 6,819,067 8,325,489 8,325,489
15 Other Assets 13,507,510 11,418,815 11,418,815
Total 438,841,570 159,157,985 132,930,171
*) Referring to OJK Circular Letter No. 24/SEOJK.03/2021 concerning Calculation of Risk-Weighted Assets for Credit Risk Using the Standard Approach for
Commercial Banks.
PT Bank Tabungan Negara (Persero) Tbk 409
Page 412
Information on Capital
and Risk Exposure
Table of Exposure of Commitment/Contingency Obligations in Administrative
Account Transaction as of December 31, 2024 and December 31, 2023 (in million IDR)
December 31, 2024
No. Portfolio Category *)
Net Receivables RWA before CRM RWA after CRM
1 Receivables from the Government 29,234 - -
2 Receivables from Public Sector Entities 371,328 150,340 150,340
Receivables from Multilateral Development Banks and
3 - - -
International Institutions
4 Receivables from Banks - - -
Receivables from Securities Companies and Other
5 4,610 1,844 1,844
Financial Services Institutions
6 House-backed Loan 7,642 2,684 2,071
7 Commercial Property-backed Loan 135,852 117,414 116,650
Loan for Land Acquisition, Land Management and
8 633,435 768,331 768,331
Construction
9 Employee/Retiree Loan 6 3 3
10 Receivables from MSE and Retail Portfolio 3,459 3,106 3,075
11 Corporate Receivables 3,856,681 2,712,309 2,712,309
12 Matured Receivables 1,071 1,599 1,599
Total 5,043,318 3,757,630 3,756,222
*) Referring to OJK Circular Letter No. 24/SEOJK.03/2021 concerning Calculation of Risk-Weighted Assets for Credit Risk Using the Standard Approach for
Commercial Banks.
(in million IDR)
December 31, 2023
No. Portfolio Category *)
Net Receivables RWA before CRM RWA after CRM
1 Receivables from the Government 103,743 - -
2 Receivables from Public Sector Entities 562,576 216,301 216,301
Receivables from Multilateral Development Banks and
3 - - -
International Institutions
4 Receivables from Banks - - -
Receivables from Securities Companies and Other
5 450 180 180
Financial Services Institutions
6 House-backed Loan 4,776 1,684 1,260
7 Commercial Property-backed Loan 148,313 125,864 124,384
Loan for Land Acquisition, Land Management and
8 837,422 886,632 885,788
Construction
9 Employee/Retiree Loan 4 2 2
10 Receivables from MSE and Retail Portfolio 3,640 2,571 2,443
410 PT Bank Tabungan Negara (Persero) Tbk
Page 413
Annual
Report 2024
December 31, 2023
No. Portfolio Category *)
Net Receivables RWA before CRM RWA after CRM
11 Corporate Receivables 3,225,368 2,286,629 2,254,449
12 Matured Receivables 4,058 6,087 6,087
Total 4,890,349 3,525,951 3,490,895
*) Referring to OJK Circular Letter No. 24/SEOJK.03/2021 concerning Calculation of Risk-Weighted Assets for Credit Risk Using the Standard Approach for
Commercial Banks.
Table of Exposures that Give rise to Credit Risk due to Failure of Counterparty
(Counterparty Credit Risk) as of December 31, 2024 and December 31, 2023 (in million IDR)
December 31, 2024
No. Portfolio Category *)
Net Receivables RWA before CRM RWA after CRM
1 Receivables from the Government 265,499 - -
2 Receivables from Public Sector Entities - - -
Receivables from Multilateral Development Banks and
3 - - -
International Institutions
4 Receivables from Banks - - -
Receivables from Securities Companies and Other
5 - - -
Financial Services Institutions
6 Receivables from MSE and Retail Portfolio - - -
7 Corporate Receivables - - -
Total 265,499 - -
*) Referring to OJK Circular Letter No. 24/SEOJK.03/2021 concerning Calculation of Risk-Weighted Assets for Credit Risk Using the Standard Approach for
Commercial Banks.
(in million IDR)
December 31, 2023
No. Portfolio Category *)
Net Receivables RWA before CRM RWA after CRM
1 Receivables from the Government 0 - -
2 Receivables from Public Sector Entities - - -
Receivables from Multilateral Development Banks and
3 - - -
International Institutions
4 Receivables from Banks - - -
Receivables from Securities Companies and Other
5 - - -
Financial Services Institutions
6 Receivables from MSE and Retail Portfolio - - -
7 Corporate Receivables - - -
Total 0 - -
*) Referring to OJK Circular Letter No. 24/SEOJK.03/2021 concerning Calculation of Risk-Weighted Assets for Credit Risk Using the Standard Approach for
Commercial Banks.
PT Bank Tabungan Negara (Persero) Tbk 411
Page 414
Information on Capital
and Risk Exposure
Table of Exposure that Gives Credit Risk Due to Settlement Failure (Settlement Risk)
as of December 31, 2024 and December 31, 2023 (in million IDR)
December 31, 2024
No. Portfolio Category *) Capital
Exposure Value Regulatory RWA after CRM
Adjustment
For transactions classified as Delivery versus payment
1 - - -
(DvP)
a. Capital Expense 8% (5-15 days) - - -
b. Capital Expense 50% (16-30 days) - - -
c. Capital Expense 75% (31-45 days) - - -
d. Capital Expense 100% (more than 45 days) - - -
"For transactions classified as Non Delivery versus
2 - - -
payment (Non DvP)"
Total - - -
*) Referring to OJK Circular Letter No. 24/SEOJK.03/2021 concerning Calculation of Risk-Weighted Assets for Credit Risk Using the Standard Approach for
Commercial Banks.
(in million IDR)
December 31, 2023
No. Portfolio Category *) Capital
Exposure Value Regulatory RWA after CRM
Adjustment
For transactions classified as Delivery versus payment
1 - - -
(DvP)
a. Capital Expense 8% (5-15 days) - - -
b. Capital Expense 50% (16-30 days) - - -
c. Capital Expense 75% (31-45 days) - - -
d. Capital Expense 100% (more than 45 days) - - -
"For transactions classified as Non Delivery versus
2 - - -
payment (Non DvP)"
Total - - -
*) Referring to OJK Circular Letter No. 24/SEOJK.03/2021 concerning Calculation of Risk-Weighted Assets for Credit Risk Using the Standard Approach for
Commercial Banks.
Table of Securitization Exposure as of December 31, 2024 and December 31, 2023 (in million IDR)
December 31, 2024
No. Transaction Type *)
Capital Regulatory
RWA
Adjustment
"RWA for Securitization Exposure calculated using the
1 - -
External Rating Based Approach (ERBA) Method"
RWA for Securitization Exposure calculated by
2 - 194,108
Standardized Approach (SA) Method
Securitization Exposure which is a Main Core Capital
3 - -
Reduction Factor
Total - 194,108
*) Referring to OJK Circular Letter No. 24/SEOJK.03/2021 concerning Calculation of Risk-Weighted Assets for Credit Risk Using the Standard Approach for
Commercial Banks
412 PT Bank Tabungan Negara (Persero) Tbk
Page 415
Annual
Report 2024
(in million IDR)
December 31, 2023
No. Transaction Type *)
Capital Regulatory
RWA
Adjustment
"RWA for Securitization Exposure calculated using the
1 - -
External Rating Based Approach (ERBA) Method"
RWA for Securitization Exposure calculated by
2 - 226,678
Standardized Approach (SA) Method
Securitization Exposure which is a Main Core Capital
3 - -
Reduction Factor
Total - 226,678
*) Referring to OJK Circular Letter No. 24/SEOJK.03/2021 concerning Calculation of Risk-Weighted Assets for Credit Risk Using the Standard Approach for
Commercial Banks
Table of Derivative Credit Risk Measurement as of December 31, 2024
and December 31, 2023 (in million IDR)
December 31, 2024
No. Transaction Type *)
Capital Regulatory
RWA
Adjustment
1 Receivables from the Government - -
a. Receivables from the Indonesian Government - -
b. Receivables from the Other Countries Government - -
2 Receivables from Public Sector Entities - -
Receivables from Multilatera Development Banks and
3 - -
International Institutions
4 Receivables from Banks 253,941 50,788
a. Short Term Receivable - -
b. Long Term Receivable 253,941 50,788
Receivables from Securities Companies and Other
5 - -
Financial Services Institutions
a. Short Term Receivable - -
b. Long Term Receivable - -
6 Receivables from MSE and Retail Portfolio - -
7 Corporate Receivables - -
8 Exposure related to Central Counterparty (CCP) - -
Total 253,941 50,788
*) Referring to OJK Circular Letter No. 24/SEOJK.03/2021 concerning Calculation of Risk-Weighted Assets for Credit Risk Using the Standard Approach for
Commercial Banks
PT Bank Tabungan Negara (Persero) Tbk 413
Page 416
Information on Capital
and Risk Exposure
(in million IDR)
December 31, 2023
No. Transaction Type *)
Capital Regulatory
RWA
Adjustment
1 Receivables from the Government - -
a. Receivables from the Indonesian Government - -
b. Receivables from the Other Countries Government - -
2 Receivables from Public Sector Entities - -
Receivables from Multilatera Development Banks and
3 - -
International Institutions
4 Receivables from Banks 150,239 44,017
a. Short Term Receivable - -
b. Long Term Receivable 150,239 44,017
Receivables from Securities Companies and Other
5 - -
Financial Services Institutions
a. Short Term Receivable - -
b. Long Term Receivable - -
6 Receivables from MSE and Retail Portfolio - -
7 Corporate Receivables - -
8 Exposure related to Central Counterparty (CCP) - -
Total 150,239 44,017
*) Referring to OJK Circular Letter No. 24/SEOJK.03/2021 concerning Calculation of Risk-Weighted Assets for Credit Risk Using the Standard Approach for
Commercial Banks
Table of Credit Risk Measurement as of December 31, 2024 and December 31, 2023 (in million IDR)
No. Description December 31, 2024 December 31, 2023
1 RWA CALCULATION ON CREDIT RISK (A) 151,116,320 136,691,761
"CREDIT RISK RWA REDUCTION FACTOR: The excess of PPKA
2 general reserves over productive assets which must be (B) 1,828,570 -
calculated with 1.25% RWA for Credit Risk"
3 TOTAL RWA CREDIT RISK (A) - (B) (C) 149,287,750 136,691,761
4 TOTAL CAPITAL REDUCTION FACTORS (D) - -
414 PT Bank Tabungan Negara (Persero) Tbk
Page 417
Annual
Report 2024
Market
Risk
Market risks are risks in the financial position statement The Bank engages in both non-derivative and derivative
and administrative account report due to overall changes foreign exchange transactions, as regulated under Special
to market conditions. In measuring market risk, Company Policy No. KK.2-E on Foreign Exchange and Derivative
uses the standard method commonly used to calculate Transaction Procedures. For derivative transactions, such
the Capital Adequacy Requirements (Minimum CAR) for as cross-currency swaps, a mark-to-market approach is
Market Risks. Exchange rate risk arising from fluctuating applied as part of portfolio monitoring. In the calculation
exchange rate is managed by maintaining the Net Open of the Capital Adequacy Ratio (CAR), the Bank has
Position (NOP) according to Bank Indonesia regulation. implemented OJK Circular Letter No. 23/SEOJK.03/2022,
dated December 7, 2022, concerning the Calculation of
External turmoil is also accommodated by stress testing to Risk-Weighted Assets for Market Risk for Commercial
see how far Company can survive with several scenarios of Banks, effective from January 2024.
the changes in external conditions, particularly regarding
market interest rate. Descriptipn related to Market Risk using the standardized
method is described as follows:
Table of Market Risk Calculation Using Standard Method (in million IDR)
Details of Parameters December 31, 2024 December 31, 2023
a. Capital charge based on sensitivity based method 487,712 218,628
1) GIRR risk class 235,887 46,049
2) CSR risk class (non-securitization) 228,293 44,524
3) CSR risk class (securitization: non-CTP) - 62,867
4) CSR risk class (securitization: CTP) - -
5) Equity risk class - -
6) Commodity risk class - -
7) Exchange rate risk class 23,531 65,189
b. Default risk capital (DRC) expenses 6 62,352
c. Additional residual risk (RRAO) - -
Market Risk Capital Expense 487,717 295,576
Additional Pillar 1 RWA - -
Credit Valuation Adjustment (CVA) 5,170 34,374
Total RWA for Market Risk 6,101,634 3,729,075
PT Bank Tabungan Negara (Persero) Tbk 415
Page 418
Information on Capital
and Risk Exposure
Exposure Interest Rate Risk in The Banking Book (IRRBB)
The Interest Rate Risk in The Banking Book (IRRBB) is a Down, Steepener, Flattener, Short Rates Up and Short
part of the interest rate risk, which focuses on the impact Rates Down. Meanwhile, ΔNII calculation uses 2 shock
of the economic value changes from the position of the scenarios, i.e. Parallel Up and Parallel Down. Company
banking book that is potentially affecting Company’s measures the change in NII (ΔNII) as maximum decline
capital and rentability. In measuring and calculating of NII during the increase or decline of interest rate.
IRRBB, Company applies 6 (six) interest rate shock The following is the result of company interest risk
scenarios for ΔEVE calculation, i.e. Parallel Up, Parallel management monitoring.
Table of Disclosure of Exposure Interest Rate Risk in Banking Book (IRRBB) (in million IDR)
December 31, 2024 December 31, 2023
Type of Interest
No. Rate Shock ΔEVE ΔNII ΔEVE ΔNII
Scenario
T T-1 T T-1 T T-1 T T-1
1 Parallel up (2,887,356) (1,178,301) (2,763,907) (2,358,529) (287,473) (765,531) (1,815,275) (2,627,006)
2 Parallel down 3,899,531 1,895,623 2,447,081 2,067,164 1,042,596 1,427,453 1,490,950 2,323,624
3 Steepener (1,013,969) (580) (913,832) (458,737)
4 Flattener 518 533 1,033,934 471,870
5 Short rate up (1,209,839) (416) 338,291 (285,800)
6 Short rate down 862 30 (836,789) (162,978)
Negative
7 Maximum Value 2,887,356 1,178,301 2,763,907 2,358,529 913,832 765,531 1,815,275 2,627,006
(absolute)
Tier 1 Capital (for
8 ΔEVE) or Projected 29,229,783 28,902,255 16,216,707 16,216,707 27,115,896 25,514,204 16,319,417 16,319,417
Income (for ΔNII)
Maximum Value
divided by Tier 1
Capital (for ∆EVE) 9.88% 4.08% 17.04% 14.54% 3.37% 3.00% 11.12% 16.10%
or Projected
Income (for ∆NII)
Based on the Company’s current portfolio, if there is a equity, should short-term interest rates decrease while
change in interest rates according to the parallel shock long-term interest rates rise under the short-rate down
up scenario of ± 400 bps, it will have an impact on scenario, is estimated at IDR2.89 trillion. Compared to
changes in the Company’s interest income and interest the total Tier 1 Capital of 9.88%, this remains below the
expense of 11.12% of the Company’s NII target. The Financial Services Authority’s (OJK) regulatory limit of
maximum potential economic loss to the Company’s 15% of Tier 1 Capital.
416 PT Bank Tabungan Negara (Persero) Tbk
Page 419
Annual
Report 2024
PT Bank Tabungan Negara (Persero) Tbk 417
Page 420
Information on Capital
and Risk Exposure
Table of IDR Maturity Profile as of December 31, 2024 and December 31, 2023
December 31, 2024
Maturity Date
No Posts
>3 >6
Balance >1 week >2 weeks >1 month
months months >12
to 1 week to 2 to 1 to 3
to 6 to 12 months
weeks month" months"
months" months"
I. BALANCE SHEET
A. ASSETS
1 Cash 2,072,073 2,072,073 - - - - - -
Placement with Bank
2 32,633,468 23,943,692 - 1,023,558 476,120 3,083,712 4,106,387 -
Indonesia
a. Demand deposits 21,133,838 21,133,838 - - - - - -
b. SBI 8,689,776 - - 1,023,558 476,120 3,083,712 4,106,387 -
c. Others 2,809,854 2,809,854 - 0 - - - -
Placement from other
3 130,433 130,433 - - - - - -
bank
4 Securities 39,060,292 3,601,158 - 6,758,835 1,220,699 2,565,897 1,322,839 23,590,864
a. SUN 29,225,616 101,166 - 6,758,835 822,110 2,557,414 1,294,839 17,691,252
1) traded 3,265,550 - - - 472,110 326,391 5,494 2,461,555
2) available for sale 9,520,269 - - - - 269,333 659,526 8,591,411
3) held to maturity 16,439,797 101,166 - 6,758,835 350,000 1,961,690 629,820 6,638,285
4) loans and
- - - - - - - -
receivables
b. Corporate Securities 6,335,373 689 - - 398,589 8,482 28,000 5,899,612
1) traded 444,577 - - - - - - 444,577
2) available for sale 1,851,158 - - - - - 28,000 1,823,158
3) held to maturity 4,039,638 689 - - 398,589 8,482 - 3,631,877
4) loans and
- - - - - - - -
receivables
c. Others 3,499,303 3,499,303 - - - - - -
5 Loans 355,846,978 584,693 48,878 1,575,694 3,436,076 2,918,557 6,193,238 341,089,843
a. Not yet due 353,753,038 176,345 48,878 1,575,694 3,349,358 2,717,914 6,013,797 339,871,051
b. Due 2,093,941 408,348 - - 86,718 200,643 179,441 1,218,791
6 Other Receivables 1,117,524 156,427 19,198 - - 941,898 - -
a. Receivables from
Securities Purchased
175,625 156,427 19,198 - - - - -
under Agreement to
Resell (Reverse Repo)
b.Others 941,898 - - - - 941,898 - -
7 Investment in Shares - - - - - - - -
8 Others 19,486,447 - - 19,486,447 - - - -
Total Assets 450,347,216 30,488,476 68,076 28,844,534 5,132,895 9,510,064 11,622,464 364,680,706
418 PT Bank Tabungan Negara (Persero) Tbk
Page 421
Annual
Report 2024
(in million IDR)
December 31, 2023
Maturity Date
Balance >6 months
>1 week to 2 >2 weeks to 1 >1 month to >3 months
to 1 week to 12 >12 months
weeks month 3 months to 6 months
months"
2,095,378 2,095,378 - - - - - -
29,950,536 29,756,476 - - - 194,060 - -
17,607,788 17,607,788 - - - - - -
194,060 - - - - 194,060 - -
12,148,688 12,148,688 - 0 - - - -
234,107 234,107 - - - - - -
35,902,399 576,504 270 7,483,702 2,955,254 882,854 1,260,459 22,743,357
31,398,530 573,350 - 7,477,808 2,954,236 562,846 1,210,716 18,619,574
3,769,410 573,350 - - 2,168,375 - 15,618 1,012,066
8,531,019 - - - 30,000 111,036 521,271 7,868,712
19,098,101 - - 7,477,808 755,861 451,810 673,827 9,738,795
- - - - - - - -
4,503,869 3,153 270 5,894 1,018 320,009 49,742 4,123,783
540,443 - - - - - - 540,443
1,627,903 - - - - 30,000 - 1,597,903
2,335,524 3,153 270 5,894 1,018 290,009 49,742 1,985,438
- - - - - - - -
- - - - - - - -
331,237,860 2,096,216 34,163 862,025 1,851,281 2,099,232 6,446,104 317,848,839
328,453,825 1,225,977 34,163 862,025 1,746,409 2,002,306 6,177,307 316,405,639
2,784,034 870,239 - - 104,872 96,926 268,797 1,443,200
1,195,547 - - - - 1,195,547 - -
- - - - - - - -
1,195,547 - - - - 1,195,547 - -
- - - - - - - -
17,884,999 - - 17,884,999 - - - -
418,500,826 34,758,681 34,432 26,230,726 4,806,535 4,371,694 7,706,562 340,592,196
PT Bank Tabungan Negara (Persero) Tbk 419
Page 422
Information on Capital
and Risk Exposure
December 31, 2024
Maturity Date
No Posts
>3 >6
Balance >1 week >2 weeks >1 month
months months >12
to 1 week to 2 to 1 to 3
to 6 to 12 months
weeks month" months"
months" months"
B. LIABILITIES
1 Third Party Funds 360,188,326 119,338,868 12,299,951 64,099,968 55,499,936 27,861,193 3,500,473 77,587,937
a. Demand deposits 144,690,353 67,202,335 - - - - - 77,488,018
b. Saving Deposits 38,931,694 38,931,694 - - - - - -
c. Time Deposits 176,566,279 13,204,839 12,299,951 64,099,968 55,499,936 27,861,193 3,500,473 99,919
1) Deposit on call 3,819,729 1,836,456 726,818 1,256,455 - - - -
2) Time Deposits 172,746,550 11,368,383 11,573,132 62,843,513 55,499,936 27,861,193 3,500,473 99,919
3) Others - - - - - - - -
Liabilities to Bank
2 - - - - - - - -
Indonesia
3 Liabilities to other banks 104,745 83,154 - 21,291 - 300 - -
4 Securities Issued 5,444,524 - - - - 600,000 996,000 3,848,524
a. Bonds 5,444,524 - - - - 600,000 996,000 3,848,524
b. Subordination - - - - - - - -
c. Others - - - - - - - -
5 Fund Borrowings 34,271,930 - - - - 4,420,000 7,000,000 22,851,930
a. Subordinated Loan 1,500,000 - - - - - - 1,500,000
b. Others 32,771,930 - - - - 4,420,000 7,000,000 21,351,930
6 Other Receivables 4,351,325 4,351,325 - - - - - -
a. Liabilities for Securities
Sold under Repurchase 3,409,426 3,409,426 - - - - - -
Agreement (Repo)
b. Others 941,898 941,898 - - - - - -
7 Others 7,982,668 - - 7,982,668 - - - -
Total Liabilities 412,343,518 123,773,347 12,299,951 72,103,927 55,499,936 32,881,493 11,496,473 104,288,391
Difference of Assets and
38,003,698 (93,284,871) (12,231,875) (43,259,393) (50,367,041) (23,371,429) 125,992 260,392,315
Liabilities in the Balance
II. ADMINISTRATIVE ACCOUNT
A. ADMINISTRATIVE ACCOUNT RECEIVABLES
1 Commitments - - - - - - - -
a. Outstanding loan
- - - - - - - -
facility
b. Outstanding spot and
derivative purchasing - - - - - - - -
position
1) Spot - - - - - - - -
2) Derivative - - - - - - - -
420 PT Bank Tabungan Negara (Persero) Tbk
Page 423
Annual
Report 2024
December 31, 2023
Maturity Date
Balance >6 months
>1 week to 2 >2 weeks to 1 >1 month to >3 months
to 1 week to 12 >12 months
weeks month 3 months to 6 months
months"
324,517,875 110,904,849 15,416,183 56,972,191 38,901,144 15,594,567 22,279,017 64,449,924
124,350,812 60,031,106 - - - - - 64,319,706
38,804,771 38,804,771 - - - - - -
161,362,291 12,068,971 15,416,183 56,972,191 38,901,144 15,594,567 22,279,017 130,218
5,377,306 2,699,341 1,753,015 924,950 - - - -
155,714,985 9,369,631 13,663,168 56,047,241 38,901,144 15,484,567 22,119,017 130,218
270,000 - - - - 110,000 160,000 -
- - - - - - - -
1,300,316 - - 20,936 2,300 500,000 777,080 -
6,834,647 265,846 - - - 1,219,500 853,000 4,496,302
6,834,647 265,846 - - - 1,219,500 853,000 4,496,302
- - - - - - - -
- - - - - - - -
37,523,489 - - 3,242,020 - 5,140,000 7,455,000 21,686,469
4,499,997 - - - - - - 4,499,997
33,023,492 - - 3,242,020 - 5,140,000 7,455,000 17,186,472
1,195,547 1,195,547 - - - - - -
- - - - - - - -
1,195,547 1,195,547 - - - - - -
7,882,807 - - 7,882,807 - - - -
379,254,681 112,366,242 15,416,183 68,117,954 38,903,444 22,454,067 31,364,097 90,632,695
39,246,145 (77,607,561) (15,381,751) (41,887,228) (34,096,909) (18,082,373) (23,657,534) 249,959,501
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
PT Bank Tabungan Negara (Persero) Tbk 421
Page 424
Information on Capital
and Risk Exposure
December 31, 2024
Maturity Date
No Posts
>3 >6
Balance >1 week >2 weeks >1 month
months months >12
to 1 week to 2 to 1 to 3
to 6 to 12 months
weeks month" months"
months" months"
c. Others - - - - - - - -
2 Contingencies 29,239,182 - - 29,239,182 - - - -
Total Administrative
29,239,182 - - 29,239,182 - - - -
Account Receivables
B. ADMINISTRATIVE ACCOUNT LIABILITIES
1 Commitments 14,922,462 - - 14,922,282 - - 180 -
a. Outstanding loan
12,854,286 - - 12,854,286 - - - -
facility
b. Outstanding
246,888 - - 246,888 - - - -
irrevocable L/C
c. Outstanding spot and
1,806,505 - - 1,806,325 - - 180 -
derivative sale position
1) Spot - - - - - - - -
2) Derivative 1,806,505 - - 1,806,325 - - 180 -
d. Others 14,782 - - 14,782 - - - -
2 Contingencies 2,886,478 - - 2,886,478 - - - -
Total Administrative
17,808,940 - - 17,808,760 - - 180 -
Account Liabilities
Difference of Receivables
and Liabilities in 11,430,242 - - 11,430,422 - - (180) -
Administrative Accounts
Difference
49,433,941 -93,284,871 -12,231,875 -31,828,970 -50,367,041 -23,371,429 126 260,392,315
[(IA-IB)+(IIA-IIB)]
Cumulative Difference 49,433,941 -93,284,871 -105,516,746 -137,345,716 -187,712,757 -211,084,186 -210,958,375 49,433,941
Table of Forex Maturity Profile as of December 31, 2024 and December 31, 2023
December 31, 2024
Maturity Date
No Posts
Balance >1 month >3 months >6 months
>1 week to >2 weeks >12
to 1 week to 3 to 6 to 12
2 weeks to 1 month months
months months months"
I. BALANCE SHEET
A. ASSETS
1 Cash 33,547 33,547 - - - - - -
Placement with Bank
2 12,265,243 3,457,270 1,607,215 4,013,449 3,187,309 - - -
Indonesia
Placement from
3 5,821,374 5,821,374 - - - - - -
other bank
4 Securities 4,266,599 - - 99,156 - 48,149 - 4,119,294
422 PT Bank Tabungan Negara (Persero) Tbk
Page 425
Annual
Report 2024
December 31, 2023
Maturity Date
Balance >6 months
>1 week to 2 >2 weeks to 1 >1 month to >3 months
to 1 week to 12 >12 months
weeks month 3 months to 6 months
months"
- - - - - - - -
24,998,985 - - 24,998,985 - - - -
24,998,985 - - 24,998,985 - - - -
20,977,203 - - 19,170,698 - - - 1,806,505
19,138,038 - - 19,138,038 - - - -
18,496 - - 18,496 - - - -
1,806,505 - - - - - - 1,806,505
- - - - - - - -
1,806,505 - - - - - - 1,806,505
14,164 - - 14,164 - - - -
2,502,757 - - 2,502,757 - - - -
23,479,960 - - 21,673,455 - - - 1,806,505
1,519,025 - - 3,325,530 - - - (1,806,505)
40,765,170 (77,607,561) (15,381,751) (38,561,698) (34,096,909) (18,082,373) (23,657,534) 248,152,996
40,765,170 (77,607,561) (92,989,312) (131,551,010) (165,647,919) (183,730,292) (207,387,826) 40,765,170
(in million IDR)
December 31, 2023
Maturity Date
Balance >3 months
>1 week to 2 >2 weeks to 1 >1 month to 3 >6 months to
to 1 week to 6 >12 months
weeks month months 12 months
months
32,111 32,111 - - - - - -
19,257,856 19,104,196 153,661 - - - - -
1,969,352 1,969,352 - - - - - -
4,756,845 - - - - 188,407 138,629 4,429,809
PT Bank Tabungan Negara (Persero) Tbk 423
Page 426
Information on Capital
and Risk Exposure
December 31, 2024
Maturity Date
No Posts
Balance >1 month >3 months >6 months
>1 week to >2 weeks >12
to 1 week to 3 to 6 to 12
2 weeks to 1 month months
months months months"
a. SUN 4,152,850 - - 99,156 - - - 4,053,694
1) traded - - - - - - - -
2) available for
3,806,299 - - - - - - 3,806,299
sale
3) held to maturity 346,552 - - 99,156 - - - 247,396
4) loans and
- - - - - - - -
receivables
b. Corporate
48,152 - - - - 48,149 - 3
Securities
1) traded - - - - - - - -
2) available for
48,152 - - - - 48,149 - 3
sale
3) held to maturity - - - - - - - -
4) loans and
- - - - - - - -
receivables
c. Others - - - - - - - -
5 Loans 2,125,954 - - - - 926,237 - 1,199,717
a. Not yet due 2,125,954 - - - - 926,237 - 1,199,717
b. Due - - - - - - - -
6 Other Receivables 102,843 102,843 - - - - - -
a. Receivables from
Securities Purchased
- - - - - - - -
under Agreement to
Resell (Reverse Repo)
b.Others 102,843 102,843 - - - - - -
7 Others 1,131,583 - - 1,131,583 - - - -
Total Assets 25,747,143 9,415,034 1,607,215 5,244,188 3,187,309 974,386 - 5,319,011
B. LIABILITIES
1 Third Party Funds 21,660,151 16,209,458 870,539 430,724 4,139,340 8,569 1,505 16
a. Demand deposits 15,397,154 15,397,154 - - - - - -
b. Saving Deposits 290,386 290,386 - - - - - -
c. Time Deposits 5,972,610 521,917 870,539 430,724 4,139,340 8,569 1,505 16
1) Deposit on call - - - - - - - -
424 PT Bank Tabungan Negara (Persero) Tbk
Page 427
Annual
Report 2024
December 31, 2023
Maturity Date
Balance >3 months
>1 week to 2 >2 weeks to 1 >1 month to 3 >6 months to
to 1 week to 6 >12 months
weeks month months 12 months
months
4,456,411 - - - - - 138,629 4,317,783
2,379 - - - - - 2,379 -
3,980,972 - - - - - - 3,980,972
473,061 - - - - - 136,250 336,811
- - - - - - - -
300,434 - - - - 188,407 - 112,027
- - - - - - - -
300,434 - - - - 188,407 - 112,027
- - - - - - - -
- - - - - - - -
- - - - - - - -
2,460,281 - - - - - 230,955 2,229,326
2,460,281 - - - - - 230,955 2,229,326
- - - - - - - -
64,516 64,516 - - - - - -
- - - - - - - -
64,516 64,516 - - - - - -
1,092,189 - - 1,092,189 - - - -
29,633,150 21,170,174 153,661 1,092,189 - 188,407 369,584 6,659,136
25,415,442 18,662,384 824,462 2,090,700 1,732,429 1,371,955 733,513 -
18,457,944 18,457,944 - - - - - -
193,982 193,982 - - - - - -
6,763,517 10,458 824,462 2,090,700 1,732,429 1,371,955 733,513 -
- - - - - - - -
PT Bank Tabungan Negara (Persero) Tbk 425
Page 428
Information on Capital
and Risk Exposure
December 31, 2024
Maturity Date
No Posts
Balance >1 month >3 months >6 months
>1 week to >2 weeks >12
to 1 week to 3 to 6 to 12
2 weeks to 1 month months
months months months"
2) Time Deposits 5,972,610 521,917 870,539 430,724 4,139,340 8,569 1,505 16
3) Others - - - - - - - -
Liabilities to Bank
2 - - - - - - - -
Indonesia
Liabilities to other
3 - - - - - - - -
banks
4 Securities Issued 4,816,106 - - 4,816,106 - - - -
a. Bonds - - - - - - - -
b. Subordination 4,816,106 - - 4,816,106 - - - -
c. Others - - - - - - - -
5 Fund Borrowings 711,382 - - - - - - 711,382
a. Subordinated Loan - - - - - - - -
b. Others 711,382 - - - - - - 711,382
6 Other Receivables - - - - - - - -
a. Liabilities for
Securities Sold
- - - - - - - -
under Repurchase
Agreement (Repo)
b. Others - - - - - - - -
7 Others 140,980 - - 140,980 - - - -
Total Liabilities 27,328,619 16,209,458 870,539 5,387,810 4,139,340 8,569 1,505 711,398
Difference of Assets
and Liabilities in the (1,581,476) (6,794,424) 736,676 (143,622) (952,031) 965,817 (1,505) 4,607,613
Balance
II. ADMINISTRATIVE ACCOUNT
A. ADMINISTRATIVE ACCOUNT RECEIVABLES
1 Commitments 1,958,710 - - 1,958,710 - - - -
a. Outstanding loan
- - - - - - - -
facility
b. Outstanding
spot and derivative 1,958,710 - - 1,958,710 - - - -
purchasing position
1) Spot - - - - - - - -
2) Derivative 1,958,710 - - 1,958,710 - - - -
c. Others - - - - - - - -
426 PT Bank Tabungan Negara (Persero) Tbk
Page 429
Annual
Report 2024
December 31, 2023
Maturity Date
Balance >3 months
>1 week to 2 >2 weeks to 1 >1 month to 3 >6 months to
to 1 week to 6 >12 months
weeks month months 12 months
months
6,763,517 10,458 824,462 2,090,700 1,732,429 1,371,955 733,513 -
- - - - - - - -
- - - - - - - -
- - - - - - - -
4,612,840 - - - - - - 4,612,840
- - - - - - - -
4,612,840 - - - - - - 4,612,840
- - - - - - - -
750,059 - - - - - - 750,059
- - - - - - - -
750,059 - - - - - - 750,059
- - - - - - - -
- - - - - - - -
- - - - - - - -
145,511 - - 145,511 - - - -
30,923,852 18,662,384 824,462 2,236,211 1,732,429 1,371,955 733,513 5,362,899
(1,290,702) 2,507,791 (670,802) (1,144,022) (1,732,429) (1,183,548) (363,929) 1,296,237
1,878,434 - - - - - - 1,878,434
- - - - - - - -
1,878,434 - - - - - - 1,878,434
- - - - - - - -
1,878,434 - - - - - - 1,878,434
- - - - - - - -
PT Bank Tabungan Negara (Persero) Tbk 427
Page 430
Information on Capital
and Risk Exposure
December 31, 2024
Maturity Date
No Posts
Balance >1 month >3 months >6 months
>1 week to >2 weeks >12
to 1 week to 3 to 6 to 12
2 weeks to 1 month months
months months months"
2 Contingencies 313,812 - - 313,812 - - - -
Total Administrative
2,272,522 - - 2,272,522 - - - -
Account Receivables
B. ADMINISTRATIVE ACCOUNT LIABILITIES
1 Commitments 683,216 - - 683,216 - - - -
a. Outstanding loan
683,216 - - 683,216 - - - -
facility
b. Outstanding
- - - - - - - -
irrevocable L/C
c. Outstanding spot
and derivative sale - - - - - - - -
position
1) Spot - - - - - - - -
2) Derivative - - - - - - - -
d. Others - - - - - - - -
2 Contingencies 560,030 - - 560,030 - - - -
Total Administrative
1,243,246 - - 1,243,246 - - - -
Account Liabilities
Difference of
Receivables
and Liabilities in 1,029,276 - - 1,029,276 - - - -
Administrative
Accounts
Difference
(552,200) (6,794,424) 736,676 885,654 (952,031) 965,817 (1,505) 4,607,613
[(IA-IB)+(IIA-IIB)]
Cumulative
(552,200) (6,794,424) (6,057,748) (5,172,094) (6,124,125) (5,158,308) (5,159,813) (552,200)
Difference
Operational
Risk
Operational Risk occurs due to inadequate/non- Operational risk can be classified into several types
functioning internal process, human error, system failure, of events, among others internal fraud, external
and/or external events that affect company operation. fraud, labor practices and work environment safety,
customers, business products and practices, physical
Operational risk may be sourced from human errors, asset damage, disruptions of business activities and
internal processes, system and infrastructure, as well as system failures and process and execution errors,
external events. These risk sources may create adverse including fraud arising from money laundering and
impacts on Company’s operations. Therefore, any terrorist financing activities.
emergence of such operational risk events become an
indicator for the success or the failure of the operational
risk management.
428 PT Bank Tabungan Negara (Persero) Tbk
Page 431
Annual
Report 2024
December 31, 2023
Maturity Date
Balance >3 months
>1 week to 2 >2 weeks to 1 >1 month to 3 >6 months to
to 1 week to 6 >12 months
weeks month months 12 months
months
488,686 - - 488,686 - - - -
2,367,120 - - 488,686 - - - 1,878,434
653,587 - - 653,587 - - - -
653,587 - - 653,587 - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
476,264 - - 476,264 - - - -
1,129,851 - - 1,129,851 - - - -
1,237,269 - - (641,165) - - - 1,878,434
(53,433) 2,507,791 (670,802) (1,785,187) (1,732,429) (1,183,548) (363,929) 3,174,671
(53,433) 2,507,791 1,836,989 51,802 (1,680,627) (2,864,174) (3,228,103) (53,433)
In accordance with OJK Circular Letter No. 06/ Approach for Commercial Banks, Company has carried
SEOJK.03/2020 concerning Calculation of Risk- out operational RWA calculations using a standard
Weighted Assets for Operational Risk Using a Standard approach starting in 2023.
The description related to operational risks is explained as follows:
Table of Operational Risk as of December 31, 2024 and December 31, 2023 (in million IDR)
December 31, 2024 December 31, 2023
Approach
KIB MMRO RWA KIB MMRO RWA
Basic Indicator
1,524,448 1,524,448 19,055,594 1,436,485 1,436,485 17,956,060
Approach
PT Bank Tabungan Negara (Persero) Tbk 429
Page 432
Information on Capital
and Risk Exposure
Liquidity
Risk
Liquidity Risk is the Risk resulting from the Bank’s inability In accordance with OJK Regulation 5 of 2024 dated
to meet its maturing obligations from cash flow funding March 27, 2024 concerning the Determination of the
sources and/or from high-quality liquid assets that can Supervision Status and Handling of General Bank
be pledged as collateral, without disrupting the Bank’s Problems, the Company has monitored liquidity
activities and financial condition. The inability to obtain indicators, one of which is seen from the LCR and NSFR
cash flow funding sources causing Liquidity Risk may be ratios in accordance with OJK Regulation 19 of 2024
caused among others by: dated November 8, 2024 concerning the Obligation
1. Inability to generate cash flow from productive To Fulfill The Liquidity Coverage Ratio For Commercial
assets or from the sale of assets, including liquid Banks and OJK Regulation Number 20 of 2024 dated
assets; and/or November 8, 2024 concerning the Obligation to Fulfil the
2. Inability to generate cash flow originating from Net Stable Funding Ratio for Commercial Banks.
fundraising, inter-bank transactions, and loans
received.
Table of Liquidity Coverage Ratio (LCR) (in %)
2024 2023
Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter
I II III IV I II III IV
Bank - Individual 225.00% 193.95% 202.35% 191.17% 247.26% 204.17% 171.38% 190.24%
Table of Net Stable Funding Ratio (NSFR) (in million IDR)
2023
Component
Quarter I Quarter II Quarter III Quarter IV
Available Stable Funding (ASF) 240,501,381 237,859,803 240,729,276 241,948,844
Required Stable Funding (RSF) 185,657,280 191,171,173 194,996,110 197,105,438
NSFR (%) 129.54% 124.42% 123.45% 122.75%
430 PT Bank Tabungan Negara (Persero) Tbk
Page 433
Annual
Report 2024
(in million IDR)
2024
Component
Quarter I Quarter II Quarter III Quarter IV
Available Stable Funding (ASF) 243,098,458 244,451,089 247,255,664 252,193,513
Required Stable Funding (RSF) 206,594,728 209,209,884 204,476,752 209,135,110
NSFR (%) 117.67% 116.84% 120.92% 120.59%
*) Based on the submission of the Bank's Quarterly Publication Report
Table of Asset Encumbrance (ENC)
2024
The assets on the balance sheet would a b c d
be disaggregated; there can be as
much disaggregation as desired Encumbered Assets Assets held or Unencumbered Total
pledged with the Asset
central bank and
not not used to
generate liquidity
Encumbered assets "Optional Unencumbered Total
Central bank assets
facilities"
Rp3,499,300 Rp44,920,521 Rp59,009,948 Rp107,429,769
Qualitative Analysis
Assets in the Statement of Financial a b c d
Position may be presented in detail to
the extent necessary. Encumbered Assets Assets held or Unencumbered Total
pledged with the Asset (in Million Rupiah)
central bank and
not not used to
generate liquidity
Rp0 Rp33,133,462 Rp71,673,612 Rp104,807,074
Qualitative Analysis
Definitions
a Encumbered assets are bank assets that are limited to liquidity needs, legally and contractually by the Bank in times of
stress. Encumbered Assets do not include assets that are stored or agreed upon with Bank Indonesia but have not been
used to generate liquidity and aspects.
b Assets that are stored or agreed to with Bank Indonesia but have not been used to generate liquidity are as referred to in the
Financial Services Authority Regulation regarding the obligation to fulfill the liquidity coverage ratio for Commercial Banks.
c Unencumbered assets are assets that meet the qualifications as HQLA as referred to in the Financial Services Authority
Regulation concerning the obligation to fulfill the liquidity coverage ratio for Commercial Banks.
PT Bank Tabungan Negara (Persero) Tbk 431
Names mentioned 217 people and organisations named in the text · linked when the evidence is strong
unresolved
org
Bank BTN’s
p.4 ×6
unresolved
org
Entities and Joint Venture
p.6
unresolved
—
Profile
p.6
unresolved
—
by Age Range
p.6
unresolved
org
Bank Strategy Plan Business Outlook
p.7
unresolved
—
Non-Financial
p.8
unresolved
org
Bank PRODUCTS AND SERVICES Conventional NUMBER OF OFFICES
p.9
unresolved
org
Bank Tabungan
p.10 ×4
unresolved
org
Bank Tabungan
1942 | Negara
p.10
unresolved
org
Bank Indonesia
p.10 ×11
unresolved
org
Bank Koperasi Tani
p.10
unresolved
org
Bank Dagang Negara. Government
p.10
unresolved
org
Government of the Republic of Indonesia
p.10 ×5
unresolved
org
Ministry of Finance. The Government of Indonesia
p.10
unresolved
org
Bank Tabungan Pos RI
p.10
unresolved
org
Ministry of Transportation
p.10
unresolved
org
Bank Tabungan | 1992
Negara
p.10
unresolved
org
Ministry of Central Bank Affairs.
p.10
unresolved
org
Bank Affairs.
p.10
unresolved
org
Indonesia Stock Exchange
p.11 ×2
unresolved
org
Bank BTN Phase I Year
p.32
unresolved
org
Bank BTN Phase I
p.32 ×3
unresolved
org
Bank BTN Phase II
p.32 ×3
unresolved
org
Bank Deposits
p.36
unresolved
org
PT Indo Premier Securities
p.38
unresolved
org
PT Ciptadana Sekuritas
p.38
unresolved
org
PT Aldiracita Sekuritas
p.38
unresolved
org
PT Verdhana Sekuritas Indonesia
p.38
unresolved
org
PT BRI Danareksa Sekuritas
p.38
unresolved
org
PT Sinarmas Sekuritas
p.38
unresolved
org
Bank BTN Responsible Banking. As
p.39
unresolved
org
Bank BTN New Logo Inauguration Entering
p.39
unresolved
org
Bank BTN Prospera Inauguration Bank BTN
p.40
unresolved
org
Bank BTN Mortgage Sales
p.41
unresolved
org
Bank BTN Jakarta International Marathon
p.41
unresolved
org
Bank BTN Held Mass Credit Agreements Bank BTN
p.41
unresolved
org
Bank BTN Launched BTN Prospera Debit Card Bank
p.43
unresolved
org
Bank BTN Held Interactive Dialogue
p.44
unresolved
org
Ministry of Housing and Settlement Areas
p.44 ×2
unresolved
org
Ministry of Agrarian Affairs and Spatial
p.44
unresolved
org
Ministry of State-Owned
p.45
unresolved
org
Ministry of State-Owned Enterprises
p.56
unresolved
org
Ministry of SOEs’
p.59
unresolved
org
Minister of State-Owned Enterprises Number PER-
p.61
unresolved
—
Appoint Elisabeth Novie Riswanti
· Director
p.62 ×5
unresolved
—
Consumer
· Director
p.62 ×2
unresolved
org
Financial Services Authority
p.68 ×2
unresolved
org
Bank Health Levels Using
p.69
unresolved
org
Bank Rating Approach. This
p.69
unresolved
org
Ministry of Housing and Settlement
p.69
unresolved
org
Minister of State-Owned Enterprises
p.69
unresolved
org
Minister of State-
p.72
unresolved
org
Minister of State-Owned Enterprises No. PER-
p.73
unresolved
—
Dismiss Chandra M. Hamzah
· President Commissioner
p.74 ×9
unresolved
—
Appoint Chandra M. Hamzah
· President Commissioner
p.74
unresolved
person
PROF. DR. H. MUHAMMAD QURAISH SHIHAB
p.79 ×4
unresolved
person
H. Mohamad Bagus Teguh Perwira
p.80 ×2
unresolved
person
H. Muhammad Faiz
p.80 ×2
unresolved
person
Vice
· President Director
p.82 ×3
unresolved
—
Exchange Listing
p.86
unresolved
org
2009 on Indonesia Stock Exchange
p.86
unresolved
org
Bank Tabungan Negara’s Legal Form
p.87
unresolved
person
H. R. Rasuna Said
p.91
unresolved
person
H. M. Yusuf Singadikane
p.91
unresolved
person
H.M Daud Beureuh
p.95
unresolved
org
PT MSIG Life Tbk
p.97
unresolved
org
Life Tbk
p.97
unresolved
org
PT Binagriya Upakara
p.97
unresolved
org
PT Bahana TCW Investment Management
p.97
unresolved
org
PT Trimegah Asset Management
p.97
unresolved
org
PT Manulife Aset Manajemen Indonesia
p.97 ×2
unresolved
org
PT Schroder Investment Management Indonesia
p.97 ×2
unresolved
org
PT Batavia Prosperindo Aset Manajemen
p.97
unresolved
org
PT Insight Investments Management
p.97
unresolved
org
PT Mandiri Manajemen Investasi
p.97 ×2
unresolved
org
PT Sucorinvest Asset Management
p.97 ×2
unresolved
org
PT PLN (Persero)
p.97
unresolved
org
PT Indonesia Comnets Plus
p.97
unresolved
org
Telekomunikasi Seluler Tbk
p.97 ×2
unresolved
org
Bank Mandiri Indonesia Tbk
p.97 ×2
unresolved
org
PT Dompet Anak Bangsa
p.97
unresolved
org
Amil Zakat
p.97
unresolved
org
PT Fintek Karya Nusantara
p.97
unresolved
org
PT Tokopedia Tokopedia Platform
p.98
unresolved
org
PT Adhi Persada Properti
p.98
unresolved
org
PT Dwi Daya World Wide
p.98
unresolved
org
PT Pertamina Retail
p.98
unresolved
org
PT Indomarco Prismatama
p.98 ×2
unresolved
org
PT Aviasi Pariwisata Indonesia (Persero)
p.98
unresolved
org
PT Angkasa Pura Indonesia
p.98
unresolved
org
PT Indah Kiat Pulp
p.98
unresolved
org
PT OKI Pulp
p.98
unresolved
org
PT Pindo Deli Pulp
p.98
unresolved
org
Fund Management Sinarmas Land Ltd
p.98
unresolved
org
PT Nindya Karya
p.98
unresolved
org
PT PPA
p.98
unresolved
org
PT Astakona Megahtama
p.98
unresolved
org
PT Arah Sejahtera Abadi
p.98
unresolved
org
PT LEN Industri
p.98
unresolved
org
PT Rajawali Nusantara Indonesia (Persero)
p.99 ×2
unresolved
org
PT Yodya Karya
p.99
unresolved
org
PT Virama Karya
p.99
unresolved
org
PT Pupuk Sriwidjaja Palembang
p.99
unresolved
org
PT Golden Blossom Sumatra
p.99
unresolved
org
PT Brantas Abipraya
p.99
unresolved
org
PT Bandung Indah Permai
p.99
unresolved
org
Pengelola Tabungan Perumahan Rakyat KPR
p.99
unresolved
org
Kementerian Pekerjaan Umum dan Perumahan Management of Funds and KPR
p.99
unresolved
org
Kementerian PUPR
p.99
unresolved
org
Kementerian Pekerjaan Umum dan Perumahan
p.99
unresolved
org
PT Jamkrindo Syariah
p.99 ×2
unresolved
org
PT Askrindo Syariah
p.99
unresolved
org
PT Jasindo Syariah
p.99
unresolved
org
Kementerian Keuangan Republik Indonesia Domestic Loans Kementerian Agama Republik Indonesia
p.99
unresolved
org
Kementerian Pendidikan
p.99
unresolved
org
Pengelola Keuangan Haji
p.99
unresolved
org
Penyelenggara Jaminan Produk Halal
p.99
unresolved
org
Pengelola Dana Lingkungan Hidup
p.99
unresolved
org
Pengelola Tabungan Perumahan Rakyat
p.99
unresolved
org
PT Reasuransi Indonesia Utama
p.100
unresolved
org
Dana Pensiun Lembaga Keuangan Bank Negara Fund
p.100
unresolved
org
Dana Pensiun Lembaga Keuangan Bank Rakyat Fund
p.100
unresolved
org
Dana Pensiun Lembaga Keuangan Tugu Mandiri
p.100
unresolved
org
Yayasan Kesejahteraan Pegawai Otoritas Jasa Fund
p.100
unresolved
org
PT Pabrik Gula Rajawali I
p.100
unresolved
org
PT Rajawali BTN
p.100
unresolved
org
PT Industri Kereta Api
p.100
unresolved
org
Bank Savings Post
p.102
unresolved
person
Notary Muhani Salim
· Notaris
p.102 ×2
unresolved
org
Minister of Justice
p.102
unresolved
org
Bank Tabungan Po
p.103
unresolved
person
Ashoya Ratam
· Notaris
p.108
unresolved
org
Bank Guarantee SHARIA
p.109
unresolved
org
Ministry of Public Works and Public Housing
p.111
unresolved
org
Reksa Dana Sum Assured
p.113
unresolved
org
PT Bahana TCW Investment Management The Unit Link
p.113
unresolved
org
PT Trimegah Asset Management Assured
p.113
unresolved
org
PT Danareksa Investment Management Sinarmas MSIG Insurance Partners
p.113
unresolved
org
PT Batavia Prosperindo Aset Manajemen Flexi Optima Link
p.113
unresolved
org
PT Insight Investments Management Product.
p.113
unresolved
org
Bank BTN NonHousing
p.116
Extraction attempts how the parser did, and what it refused
Nothing structured was extracted from this document — the attempts below say why.
No extraction attempted yet.