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            [post_content] => Jakarta. Net income for mid-sized lender Bank Tabungan Pensiunan Nasional’s fell 13 percent last year as the lender struggled to cope with higher interest costs.

The lender interest costs rose to Rp 5.3 trillion ($402 million), up 35 percent from a year earlier.

That outpaced interest income, which grew 12 percent to Rp 12.3 trillion, the lender said in a statement on Tuesday.

Still, lending rose 13 percent to Rp 52 trillion, on the back of loans to small and medium enterprises, BTPN president director Jerry Ng said.

Investor Daily
            [post_title] => BTPN’s 2014 Net Income Lower After Interest Costs Soar
            [post_excerpt] => Net income for mid-sized lender Bank Tabungan Pensiunan Nasional’s fell 13 percent last year as the lender struggled to cope with higher interest costs. 
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            [post_content] => Jakarta. International Finance Corporation, the World Bank’s financing arm, and Sumitomo Mitsui Banking Corporation, a Japanese bank, plan to double their investment in  Bank Tabungan Pensiunan Nasional, a listed mid-sized Indonesian lender, to support the latter’s loans to small- and medium-sized enterprises.

IFC will provide $75 million in rupiah-equivalent loans and mobilize $225 million from SMBC, which owns a 40 percent stake in BTPN.

This is the second joint investment by IFC and SMBC in BTPN after a $150 million loan in August.

The loan will help BTPN in its efforts to expand access to banking services, mainly to the two million women entrepreneurs in Indonesia, the IFC said in statement on Tuesday.

“Improving access to financial services to under-served segments, including women and rural entrepreneurs, helps them to grow their businesses and better support their families,” IFC Indonesia’s country manager, Sarvesh Suri, said.

BTPN president director Jerry Ng said the listed lender had developed a strategic partnership with IFC over the past several years.

“With the presence of the SMBC, which  plays an important role in the corporation, we see a stronger partnership to show a joint commitment to provide wider access to banking services to support Indonesia’s economic development,” he said.

Jerry said BTPN would increase loans to small and medium businesses and also extend small loans to the poor for productive purposes in the next four years.

Most of the bank’s consumers are micro-businesswomen that will interact with the bank through its Islamic banking unit, BTPN Syariah.

Masayuki Shimura, managing director and head of SMBC’s Asia-Pacific division, said the bank was committed to support BTPN in increasing its credit growth and lowering costs through cooperation.

BTPN has more than 1,200 branches in 260 cities in Indonesia.

BTPN’s share price rose 0.96 percent to Rp 4,190 per share on the Indonesia Stock Exchange (IDX) on Tuesday, compared to a 0.06 decline on the benchmark index.

Globe Asia
            [post_title] => IFC and Sumitomo Mitsui Double Investment in BTPN to Expand Lending
            [post_excerpt] => International Finance Corporation, the World Bank’s financing arm, and Sumitomo Mitsui Banking Corporation, a Japanese bank, plan to double their investment in  Bank Tabungan Pensiunan Nasional, a listed mid-sized Indonesian lender, to support the latter’s loans to small- and medium-sized enterprises. 
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            [post_name] => ifc-sumitomo-mitsui-double-investment-btpn-expand-lending
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            [post_content] => Jakarta. Bank Tabungan Pensiunan Nasional, a medium-sized lender, booked a 15 percent increase in net income in the January-September period to Rp 1.4 trillion ($116 million) from the same period last year, as lending rose despite measures to rein in borrowing.

The company’s lending grew 13 percent to Rp 51 trillion, the company said in a statement on Thursday.

BTPB’s net interest income rose 14 percent to 9.2 trillion, while its net interest cost rose 42 percent to Rp 3.95 trillion.

Jerry Ng, BTPN’s president director, was aware of the liquidity squeeze among Indonesian small and medium banks in the past few months and that forced BTPN to focus on “conservative and prudent” measures in expanding lending in order to maintain profit growth.

By comparison, profit at other lenders such as Bank Danamon Indonesia and Bank Internasional Indonesia fell in the nine-month period.

BTPN’s gross non-performing loan ratio – a measure of unpaid loans to total loans – rose to 0.81 percent from 0.62 percent.

Its profitability — as measured by net interest margin or the difference between interest charged to debtors and interest given to depositors — fell to 11.4 percent from 12.9 percent, as the lender had set higher interest to depositors to persuade them in keeping their money at the bank.

Investor Daily
            [post_title] => BTPN Dodges Liquidity Squeeze to Book  Jan.-Sept. Profit of $116m
            [post_excerpt] => Bank Tabungan Pensiunan Nasional, a medium-sized lender, booked a 15 percent increase in net income in the January-September period to Rp 1.4 trillion ($116 million) from the same period last year, as lending rose.
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            [post_content] => Jakarta. Bank Tabungan Pensiunan Nasional, a medium-size lender, secured $200 million in loans from International Finance Corporation, the financing arm of World Bank, as part of the lender’s efforts to expand its loan business.

BTPN signed the agreement with IFC on Aug. 1, the company said in a statement to the Indonesia Stock Exchange on Tuesday. These were the third and fourth IFC loan agreements with BTPN, after a $69.8 million loan in 2009 and a $100 million loan in 2012.

BTPN has been one of IFC’s long-term clients as the global financing institution seeks to “provide greater access to financing for small firms and low-income households,” IFC said on its website.

BTPN, which is controlled by the Sumitomo Mitsui Banking Corporation of Japan, provides loans to households such as pensioners, micro and small enterprises, low-income earners and women entrepreneurs.

Total outstanding loans at the lender rose 15 percent to Rp 50 trillion ($4.3 billion) as of the end of June, slowing down from last year’s 27 percent growth, as a result of the central bank’s monetary tightening policy.

Still, the growth is in line Bank Indonesia’s mandate for the country’s lender to have lending growth at between 15 percent and 17 percent this year.

BTPN’s gross non-performing loan ratio was at 0.9 percent during the period, lower than the industry average of 2.2 percent.

BTPN’s third-party funds, which include saving and time deposit accounts, rose 10 percent Rp 52.7 trillion compared to the same period last year. That put the lender’s loan-to-deposit ratio at 95 percent, higher than the central bank’s mandatory threshold of 92 percent.

Early this year, BTPN acquired a 70 percent stake in Semarang-based Bank Sahabat Purba Danarta for Rp 600 billion and converted it into an Islamic bank, as part of its effort to expand lending among lower income communities and productive poor families.
            [post_title] => IFC Loans $200m to BTPN to Finance Lending Operations
            [post_excerpt] => Bank Tabungan Pensiunan Nasional, a medium-size lender, secured $200 million in loans from International Finance Corporation, the financing arm of World Bank, as part of the lender’s efforts to expand its loan business.
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            [post_date] => 2014-09-02 20:03:57
            [post_name] => ifc-loans-200m-btpn-finance-lending-operations
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            [post_content] => Jakarta. Profit at Bank Tabungan Pensiunan Nasional, a medium-sized Indonesian lender, fell in the first half of 2014 amid slowing demand for loans in the country.

Net income at BTPN, which focus heavily on lending to retirees, fell 10 percent to Rp 991.2 billion ($85.4 million) in the first six months of the year, compared to Rp 1.1 trillion in the same period last year, according to an earnings report published in Bisnis Indonesia on Monday.

Although BTPN’s net interest income grew 15 percent to Rp 6.04 trillion, interest cost — which includes the interest rates the lender gives to its customers — climbed 41 percent to Rp 2.6 trillion in the January-June period.

BTPN’s operational expenses also rose 9.23 percent to Rp 2.14 trillion.

As rising cost exceeded the pace of the increase in net interest, profit growth at BTPN took a hit.

Slowing loan demand by consumers and companies also contributed to the lower margin at the lender.

Total outstanding loans at the lender rose to Rp 47.8 trillion as of the end of June.

The growth is lower than Bank Indonesia’s mandate for Indonesian banks to trim lending growth between 15 percent and 17 percent this year.

Many commercial lenders in Indonesia have faced a weak loan market this year because of the central bank’s regulation on lending growth, Reza Priyambada, head of research at Trust Securities, told the Jakarta Globe on Monday.

“[Banking] is still relatively attractive, but there’s some negative sentiments around the sector because of Bank Indonesia’s rule,” he said.

Shares in the financial services sector rose 0.34 percent on the Indonesia Stock Exchange (IDX) on Monday, lower than then 0.8 percent gain in the benchmark stock index.

BTPN, which generally caters to retired civil servants, recently set up a separate shariah banking unit, BTPN Syariah, which was unveiled last Tuesday as part of the bank’s latest attempt to promote Islamic-compliant banking in Indonesia.

BTPN Syariah had around Rp 2.8 trillion in assets as of the end of June, up 83 percent from the same period last year.

Japanese lender Sumitomo Mitsui Banking bought additional shares of BTPN from Texas Pacific Group, a US investment firm, in March, bringing its total ownership of BTPN to 40 percent.

Shares of BTPN remained unchanged at Rp 4,160 on the IDX on Monday.
            [post_title] => Profit at BTPN Falls in H1 on Rising Costs, Slowing Loans
            [post_excerpt] => Profit at Bank Tabungan Pensiunan Nasional, a medium-sized Indonesian lender, fell in the first half of 2014 amid slowing demand for loans in the country.

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            [post_date_gmt] => 2014-07-21 11:32:22
            [post_date] => 2014-07-21 18:32:22
            [post_name] => profit-btpn-falls-h1-rising-costs-slowing-loans
            [author] => Vanesha Manuturi
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            [post_content] => [caption id="attachment_256302" align="aligncenter" width="650"]BTPN A woman holds up a BTPN sales promotion pin. The mid-sized lender plans to merge its Shariah unit with Bank Sahabat. (JG Photo/Yudhi Sukma Wijaya)[/caption]

Bank Tabungan Pensiunan Nasional, a mid-size commercial lender, plans to spin off its Shariah business into a separate bank by the end of June after it secures shareholder approval to acquire a small bank in Semarang.

Anika Faisal, a director for compliance at BTPN, told reporters on Monday that its shareholders have agreed to acquire a 70 percent stake in Bank Sahabat Purba Danarta, based in Semarang, Central Java. BTPN will buy the 70 percent stake in Bank Sahabat for a total of Rp 600 billion ($50 million). BTPN’s shareholders have also agreed to separate the lender’s Shariah business unit and merge it with Bank Sahabat. BTPN plans to convert the surviving bank into an Islamic lender and rebrand it as BTPN Syariah. “We will now wait for approval from the regulators, but we expect to finalize the spin off within the first semester,” Anika said after the shareholders meeting. Bank Sahabat is currently controlled by a Triputra Persada Rahmat, a company affiliated with businessman Theodore P. Rachmat, a former chief executive of Astra International. Arif Tandjung, finance director of BTPN, said the commercial lender’s investment will be used by Bank Sahabat to support its capital and expand financing business for the next three to four years. He also added that assets and capital from its Shariah business unit will provide a significant boost to Bank Sahabat. Bank Sahabat currently has Rp 348 billion in assets, while BTPN’s Shariah business has about Rp 1.8 trillion, with an additional Rp 1.3 trillion in financing. “When the banks are merged into BTPN Syariah, it will have about Rp 2.5 trillion in assets, which is quite significant and will provide the Shariah bank with sufficient capital to grow,” Arif said, adding that he sees large potential for Shariah business in Indonesia, of which the majority of the population is Muslim. Currently, Islamic financing business in Indonesia remains low and lags behind neighboring Malaysia. BTPN’s Shariah unit has been doubling its business each year since 2011, though from a small base, Arif said. According to data from Bank Indonesia, Indonesia’s Shariah banks had a combined Rp 165 trillion in financing by the end of October. The figure rose 29 percent from Rp 127 trillion a year before. The country currently has 11 full-fledged Shariah banks with total assets of Rp 171 trillion, according to Bank Indonesia. Gatot Adhi Prasetyo, president director of Bank Sahabat, said that 60,000 bank account holders will be included in the merger. By comparison, BTPN has about 700,000 Shariah accounts through operations in eight provinces, including Aceh, Lampung and West Java. Bank Sahabat mostly operates in the Central Java area. “For now, we want to focus on these eight provinces and areas within Bank Sahabat’s network ... and optimize our presence there,” said Anika. BTPN joins a short list of Indonesian banks that have ventured into the country’s Islamic financing business. Bank Rakyat Indonesia acquired Bank Jasa Arta in 2008, converting it into BRI Syariah. Bank Central Asia bought control of Bank UIB, converting it into BCA Syariah in 2010. [post_title] => Merger Spins Off BTPN Syariah [post_excerpt] => Bank Tabungan Pensiunan Nasional, a mid-size commercial lender, plans to spin off its Shariah business into a separate bank by the end of June after it secures shareholder approval to acquire a small bank in Semarang. 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Net interest income at the fourth-largest bank by asset rose 23 percent to Rp 13.82 trillion, while fee-based income climbed 24 percent to Rp 7.15 trillion. The bank’s business loan increase was spurred by investment loans for projects related to the government’s economic masterplan. Consumer loans grew as home and automotive buyers rushed to take out loans before interest rates started to climb. Bank Indonesia raised its key interest rate by 150 basis points between June and September and tightened mortgage regulation by increasing down payment requirements on second and third home purchases. “Our mortgage loan in September actually broke a record because everybody rushed to get the loan before interest rate increase,” said Darmadi Sutanto, consumer banking director at BNI. Still, Darmadi and Gatot expect loan demand to slow for the remainder of the year due to higher interest rates as well as in 2014 due to the election. “The elections next year will slow down business activities, but we are expecting to grow by moderate or lower rate than the banking industry,” Gatot added, saying that the bank is still calculating how much lending will grow in 2014. He said BNI will meet its lending growth target of between 18 percent to 22 percent this year. Bank Tabungan Pensiunan Nasional, the acquisition target of Sumitomo Mitsui Banking Corporation, posted a 28 percent growth in nine-month earnings on higher lending to small businesses. In a statement released on Thursday, the company said its net income in the January-September period rose to Rp 1.8 trillion from Rp 1.4 trillion in the same period last year. Its total outstanding loans jumped 22 percent to Rp 45.30 trillion by the end of September from a year earlier. BTPN’s capital adequacy ratio — a measure of financial strength — rose to 23 percent from 21.6 percent a year earlier. It is much higher than the minimum CAR requirement of 8 percent set by the central bank. Shares of BNI rose 0.5 percent to Rp 4,500, while those of BTPN jumped 6.2 percent to Rp 4,250 in Jakarta trading on Friday. [post_title] => BNI, BTPN Earnings Climb on Lending [post_excerpt] => [post_parent] => 0 [guid] => http://www.thejakartaglobe.com/business/bni-btpn-earnings-climb-on-lending/ [post_type] => post [post_date_gmt] => 2013-10-18 14:15:31 [post_date] => 2013-10-18 21:15:31 [post_name] => bni-btpn-earnings-climb-on-lending [author] => Francezka Nangoy [author_permalink] => /author/francezka-nangoy/ [category] => Array ( [0] => stdClass Object ( [term_id] => 120 [name] => Business [slug] => business [parent] => 0 [term_taxonomy_id] => 141 [permalink] => business ) ) [permalink] => /business/bni-btpn-earnings-climb-on-lending/ [meta] => stdClass Object ( [_yoast_wpseo_linkdex] => 79 [_edit_lock] => 1382106997:148 [_thumbnail_id] => 226294 [_edit_last] => 148 [author] => Francezka Nangoy [ninja_forms_form] => 0 [gabfire_post_template] => 2col [featured] => false [_yoast_wpseo_focuskw] => BNI [_yoast_wpseo_metadesc] => BNI and Bank Tabungan Pensiunan Nasional, posted high profit growth in the first nine months on higher lending, shrugging off slowing economic growth amid rising interest rates. 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BTPN’s takeover of Bank Sahabat Purba Danarta will allow it to spin off its Shariah unit into a separate company in order to comply with central bank rules. (Reuters Photo/Enny Nuraheni)[/caption] The central bank, Bank Indonesia, has signaled its approval of Bank Tabungan Pensiunan Nasional’s plan to buy control of Bank Sahabat Purba Danarta in order to spin off its Shariah unit. Bank Tabungan Pensiunan Nasional compliance director and corporate secretary Anika Faisal said the bank had agreed to pay Rp 600 billion ($61 million) for a 70 percent stake in Bank Sahabat, in a move to make the small lender legally Shariah-compliant. The appeal of converting existing banks into Shariah-compliant banks relates to licensing laws that make starting a new bank for the transfer of Shariah banking subsidiaries more difficult than simply buying another bank to meet banking regulations. New banking regulations came about with a 2008 law stipulating all lenders with a Shariah-compliant banking unit must spin off those units by 2023, and that the separation must be undertaken earlier if the Islamic banking unit reaches total assets valued at 50 percent of its parent bank. “As it is we only need Bank Sahabat’s license,” Anika said as reason for the acquisition. A similar move was taken by Bank Rakyat Indonesia, the country’s largest micro-lender, when it acquired small lender Bank Jasa Arta in 2008 as a legally Shariah-compliant vessel for its Islamic banking unit BRI Syariah. While converting existing banks makes Shariah-conversion easier, central bank approval is still necessary due to a 2012 regulation requiring lenders acquiring more than 40 percent of another bank to seek central bank approval. “According to that rule, BTPN’s acquisition plan is possible,” Bank Indonesia spokesman Difi A. Johansyah told the Jakarta Globe on Wednesday. “Moreover, Bank Indonesia is always supportive of banks that want to spin off Shariah units. We understand that this is what BTPN is trying to accomplish.” Established in 1991 in Semarang with capital of just Rp 10 billion, Bank Sahabat has been focusing on serving microbusiness and poorer households, a market segment that is also the focus of BTPN’s Shariah unit, Anika said. “So, it would not result in culture shock when we take over,” she said. Jeff Tan, a fund manager at Sinas Mas Asset Management said that through the acquisition, BTPN would be able to extends its reach to new customers. “To my knowledge, BTPN management is very good. So, surely they’ve taken into account all considerations,” Jeff said. 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Net interest income, or income from a loan after deducting charges to service deposits, increased to Rp 1.66 trillion this year form Rp 1.32 trillion last year. “The lender will continue to focus its business on small and medium size companies,” said Jerry Ng, president director of BTPN in a separate press statement distributed in Jakarta on Wednesday. Total outstanding loans at BTPN rose 28 percent to Rp 41.1 trillion in the period compared to Rp 32.1 trillion the same time a year before. That 28 percent loan growth was equivalent to around Rp 9 trillion in new loan, the statement said. BTPN is the latest Indonesian lender to report first quarter earning results. Bank Danamon Indonesia, which has become an acquisition target by Singapore’s DBS Group, reported an 11 percent increase in net income to Rp 1 trillion in the first quarter from Rp 900 billion in the same period a year earlier, the lender said in statement last Thursday. Net interest income at Bank Danamon rose 10 percent from last year to Rp 3.33 trillion, according to the statement. Strong loan demand by Indonesian consumers and companies have benefitted many of the country’s 120 lenders including BTPN. Consumers also benefit from low borrowing cost in Indonesia’s economy which in turn prompted them to take loans from the banking system. Shares of BTPN fell 0.9 percent to Rp 5,050 on the Indonesia Stock Exchange on Monday, moving counter to the 0.7 percent gain in the main stock index. The benchmark Jakarta Composite Index rose above the 5,000-point level for the first time last Thursday. BTPN is 57.8 percent controlled by Texas Pacific Group Capital, a leading international US investment firm with a $60 billion asset portfolio under its management that covers a variety of industries. In February the bank announced that it had posted a 28 percent growth in credits in 2012 to reach Rp 38.8 trillion. 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