JAKARTA – Nixon LP Napitupulu, President Director of PT Bank Tabungan Negara Tbk (BBTN), announces its vision prepared for its sharia business unit, Bank Tabungan Negara Syariah, for the next two years.

In Public Expose Live 2024 of BBTN today (27/8), Napitupulu said that two years from now, BTN Syariah is projected to be the 2nd biggest sharia bank in Indonesia.

The optimism is backed by BTN Syariah’s impressive performance, as seen in its financing distribution that increased 22% year-on-year (yoy) in the first half (H1) f 2024. According to Napitupulu, this rate is higher than the industry average of 12%.

As of June 2024, BTN Syariah is reported distributing financing worth IDR 41.41 trillion, a jump from IDR 3.11 trillion seen in June 2023.

This growth is accompanied with decent credit quality, recording gross NPL at less than 3%. According to the Financial Report as of June 2024, gross and net NPL of BTN Syariah declined to 2.83% and 0.74% each.

“Even its [gross] NPL dropped faster than the parent entity,” added Napitupulu. Gross and net NPL of BBTN as of June 2024 were indeed still stuck at 3,13% and 1.49%.

“For the next 5 years, [assets of] BTN Syariah will reach over IDR 100 trillion,” added Napitupulu confidently. As of June 2024, BTN Syariah’s assets had arrived at IDR 55.55 trillion.

It is worth mentioning that the current biggest sharia bank in Indonesia, PT Bank Syariah Indonesia Tbk (BRIS), recorded assets of IDR 353.62 trillion as of December 2023. (ZH)