21 December 2018

BTPN and SMBCI Obtain Merger Permit

Jakarta, 21 December 2018 – PT Bank Tabungan Pensiunan Nasional Tbk (BTPN) and PT Bank Sumitomo Mitsui Indonesia (SMBCI) have officially obtained the merger permit from the Financial Services Authority (Otoritas Jasa Keuangan/OJK). The Abridged Merger Plan announced on 2 August 2018, as well as additional information on 3 September 2018 and 3 October 2018.


After obtain OJK’s approval, there are still several stages of administration process with the relevant authorities. After all of the stages are passed, the merged-bank from BTPN and SMBCI will immediately operate as a new bank.


"This approval is one of the important stages in completing the BTPN-SMBCI merger process. We are grateful and really appreciate OJK for its continuing support in this corporate action process," said Jerry Ng, President Director of BTPN.


The merged-bank will operate under the name of PT Bank BTPN Tbk and serve a wider market segment ranging from mass market to corporate.


During the merger process, BTPN assures that the bank’s operational and services will continue without disruptions. “We are certain that this merger will improve the quality of our services and increase our customers’ trust in the future,” Jerry said as closing statement.


President and CEO of SMBC Makoto Takashima added, the merger was a reflection of SMBC's commitment to continue supporting the growth of economy and our customers’ businesses in Indonesia. "The merged bank will be able to contribute to creating a more competitive financial sector in Indonesia amid ASEAN economic integration," he said.


President Director of SMBCI Kazuhisa Miyagawa said, with SMBCI’s corporate banking expertise in providing various solutions to state-owned enterprises (SOE), multinational companies, leading local private companies and Japanese companies, the new-merged bank will become a more universal bank, offering wider range of products and services to its customers.

For further information please contact:

PT Bank BTPN Tbk
Andrie Darusman – Daya & Corporate Communications Head
Telp: 021-30026200
Email: andrie.darusman@btpn.com or corporate.communications@btpn.com


Bank BTPN in brief

Bank BTPN is a foreign exchange bank and is a merger between PT Bank Tabungan Pensiunan Nasional Tbk (BTPN) and PT Bank Sumitomo Mitsui Indonesia (SMBCI). Bank BTPN is focusing to serve the mass market segment comprising of retirees, micro-, small- and medium-enterprises (MSME) and mass market; the consuming class segment; and corporate segment. The business focuses are supported by Bank BTPN business units including BTPN Sinaya– a financing business unit, BTPN Purna Bakti– a business unit focusing to serve retirees, BTPN Mitra Usaha Rakyat– a business unit focusing on micro businesses, BTPN Mitra Bisnis– a business unit focusing on serving small and medium enterprises, BTPN Wow!– a financial inclusiveness focusing on the unbanked segment, Jenius– a digital banking platform serving the consuming class segment, and corporate business unit which focuses on serving national, multinational and Japanese companies. BTPN also has a subsidiary namely theBTPN Syariahwhich focuses on serving customers from the mass market. Through the Daya Program, which is a sustainable and measurable empowerment program for the mass market, Bank BTPN regularly gives training and information to improve the customers’ capacity so they can grow and have a chance to live better.