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 – Communications & Daya Head
Email: [email protected] or [email protected]


Bank BTPN in brief

PT Bank BTPN Tbk (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) in February 2019. Bank BTPN serves various segments in the banking industry, from retail to corporate customers, including retirees, micro-, small- and medium-sized enterprises (MSME) and productive underprivileged communities; the consuming class segment; and the corporate segment. Bank BTPN provides the services through business units, such as BTPN Sinaya—a business unit for wealth management, BTPN Purna Bakti—a business serving retirees, BTPN Micro Business—a business unit serving microbusinesses, BTPN Business Banking—a business serving small- and medium-sized enterprises, Jenius—a digital banking platform serving the consuming class segment, and the corporate business unit, which serves national, multinational, and Japanese companies. Bank BTPN also has a subsidiary, namely PT Bank BTPN Syariah Tbk, which focuses on serving productive underprivileged customers. Bank BTPN also regularly provides training sessions and information for customers through the Daya Program—a sustainable and measurable empowerment program—to improve customers’ capacity so they can grow and have a chance to live better.