JAKARTA – Shareholders of PT Bank BTPN Tbk (BTPN) agreed upon the name change of the entity to PT Bank SMBC Indonesia Tbk. This approval was obtained during Extraordinary General Meeting of Shareholders yesterday (29/8).

Henoch Munandar, President Director of BTPN, claimed that this step marks BTPN’s transformation in response to its ever-growing dynamics and portfolio.

“We hope that Bank BTPN will be able to strengthen its position in the domestic market and emphasise the company’s relevance in wider segmentation through comprehensive and innovative financial services across all business lines,” Munandar added in the press release quoted Friday (30/8).

According to Munandar, this rebranding reflects a solid synergy with the parent entity following the merger with PT Bank Sumitomo Mitsui Indonesia in 2019.

Brand transformation to Bank SMBC Indonesia will not diminish BTPN’s commitment in driving Indonesia’s economy through developing business potential and maintaining the focus of financing to micro, small, and medium enterprises (MSME) as well as sustainable economy. It will also continue to enhance digital capability through Jenius and Daya program in order to improve the capability of users and masses alike.

As of H1 2024, the company distributed sustainable financing of IDR 16.33 trillion. Through Jenius app, credit disbursemet also soared 134% year-on-year (yoy) to IDR 3.1 trillion, while third-party funds jumped 10% yoy to IDR 27.2 trillion. BTPN also managed to cater to 6.3 million beneficiaries through 4,905 activities from Daya program.

BTPN’s assets grew 22% yoy to IDR 235.8 trillion in H1 2024, followed by credit distribution growth of 19% yoy to IDR 176.2 trillion, which drove net interest income up 17% yoy to nearly IDR 7,0 trillion. (LK/ZH)