SMBC Completes Purchase of 40% Stake in BTPN
Jakarta, 14 March 2014 – Sumitomo Mitsui Banking Corporation (SMBC) has completed the process of purchasing an additional 15.74% of stake in PT Bank Tabungan Pensiunan Nasional Tbk (BTPN) today. With the completion of this transaction, SMBC increases its shareholding in BTPN to 40% from 24.26%.
With the conclusion of this transaction, BTPN now has two credible and trustworthy controlling shareholders, namely TPG Nusantara S.a.r.l and SMBC. Having these two controlling shareholders will bring positive impact on the performance of BTPN.
“BTPN’s management welcomes the completion of this transaction. It is one of significant phases in BTPN’s journey to contribute to financial industry growth in Indonesia. By becoming a controlling shareholder, SMBC will strengthen BTPN especially in our mission to empower millions of mass market in Indonesia,” said Jerry Ng, President Director of BTPN.
The management would also like to thank and convey its appreciation to all regulators who were instrumental, directly or indirectly, in granting approvals for this transaction. Since the beginning of this process, the shareholders coordinated closely with all relevant stakeholders to ensure full compliance to all prevailing regulations.
Jerry added that, in line with SMBC’s commitment, in the future BTPN will consistently continue and enhance its business focus and banking services for the mass market segment. However, with the support and synergy provided by SMBC, BTPN is looking forward to explore new business opportunities without abandoning its core business in the mass market segment.
“We expect with SMBC as a controlling shareholder, there will be of added value to expand our business because SMBC has vast expertise and experience which will drive BTPN to further advance and grow,” Jerry concluded.
For Further Information, Please Contact:
PT Bank Tabungan Pensiunan Nasional Tbk
Eny Yuliati – Corporate Communications Head
Telp: 021 – 30026200
An Overview of BTPN
BTPN is focused on serving and empowering the mass market segment, which is comprised of pensioners, micro & small enterprises, as well as productive poor communities. This business focus is supported by BTPN’s four business units, namely BTPN Sinaya – its funding business unit, BTPN Purna Bakti – its pension business unit, BTPN Mitra Usaha Rakyat – its micro & small enterprises unit, and BTPN Syariah – which focuses on customers from productive poor communities. Through the Daya program, a measurable and sustainable empowerment program, BTPN provides training and information on a regular basis to enhance the capacities of its customers, thereby allowing them a chance to grow and improve their lives.
Date Published: 14 March 2014