JAKARTA, February 15, 2019 – The Annual Shareholders Meeting of PT Bank BTPN Tbk approved the 2018 financial statement of PT Bank Tabungan Pensiunan Nasional Tbk (BTPN) and PT Bank Sumitomo Mitsui Indonesia (SMBCI). The meeting also agreed not to distribute dividends to shareholders.
“We thank our shareholders who made this decision to use all the net profit as company reserves and retained earnings. This [decision] reflects a strong commitment from shareholders in supporting the growth of Bank BTPN in the future,” said Ongki Wanadjati Dana, President Director of Bank BTPN.
Ongki explained that the shareholders’ decision to not take the dividents reflected their long-term commitment so that Bank BTPN could continue growing. This decision is in line with the Bank BTPN’s plan in expanding the new business segment and compete in a higher level. “After officially merged with PT Bank Sumitomo Mitsui Indonesia (SMBCI), we will enter into the corporate business, develop the commercial segment and explore new business opportunities,” he said.
Until December 2018, Bank BTPN’s total assets reached Rp 101.9 trillion, 7% higher compared to the year before (year on year/yoy) of Rp 95.5 trillion. The bank’s net profit after tax (NPAT) was Rp 1.97 trillion, or grew by 61%. Meanwhile, SMBCI recorded a 15% increase in total assets to Rp 88.0 trillion and posted net profit of Rp 990 billion, 14% higher from the same period.
The shareholders meeting also decided to appoint all members of the board of directors and the board of commissioners who started working on February 1, 2019 and would end their tenure at the 2022 shareholders meeting.