December 24, 2025 | 06:41 am
TEMPO.CO, Jakarta - PT BANK Tabungan Negara Tbk (BBTN) announced that the company has completed the separation of its Sharia Business Unit (USS) or spin-off to PT Bank Syariah Nasional on December 22, 2025. The separation was carried out by BTN by transferring rights and obligations to Bank Syariah Nasional and obtained the approval of the Financial Services Authority.
CEO of BTN, Nixon L.P. Napitupulu, stated that with the completion of this separation, the company holds 6.6 million shares of Bank Syariah Nasional, representing 99.99 percent of the total issued and fully paid-up capital stock. "And the company is the controlling shareholder of BSN," he said in the information disclosure at the Indonesia Stock Exchange, Tuesday, December 23, 2025.
Following this separation, Nixon added, USS business activities at BTN legally ceased and all rights and obligations were transferred to Bank Syariah Nasional.
In the RUPSLB on Tuesday, November 18, 2025, BTN shareholders agreed to spin-off the Sharia Business Unit (UUS) to PT Bank Syariah Nasional. Through this decision, all rights and obligations of the UUS BTN were transferred to Bank Syariah Nasional. The merger of UUS BTN and Bank Victoria Syariah will make Bank Syariah Nasional the second largest Sharia Bank (BUS) in Indonesia with total assets reaching Rp71.3 trillion.
Nixon stated that the total value of BTN Sharia Business Unit's assets had met the limits set out in Article 59 POJK 12/2023 since the fourth quarter of 2023, or precisely in December 2023.
Based on BTN's financial statements for the 2023 fiscal year (audited) published in the first quarter of 2024, the Sharia Business Unit of BTN had total assets of Rp54.3 trillion. "Therefore, as a conventional commercial bank, the company is required to separate or spin-off the Sharia Business Unit," said Nixon in BTN's RUPSLB in BTN Tower I, Jakarta, as quoted in a written statement.
BTN's Sharia Business Unit network currently includes 35 Sharia Branch Offices (KCS), 76 Sharia Sub-Branch Offices (KCPS), and 589 Sharia Service Offices spread across various regions. The majority of the technological infrastructure has been separated from the parent company, and the competent human resources make the Sharia Business Unit ready to operate independently.
"This consistent growth demonstrates the readiness of BTN's Sharia Business Unit to stand alone as a full-fledged Sharia commercial bank," said Nixon.
Click here to get the latest news updates from Tempo on Google News
Real Banks Build Value, Some Hybrids Borrow Narratives
4 September 2025
Indonesia has lived through banking failures before. From Bank Century collapse in 2008 to the Asian Financial Crisis of 1997-98, the story repeated.
BTN Jakarta International Marathon 2025: The Road to Becoming a Global City and World Marathon Majors
26 Juni 2025
The BTN Jakarta International Marathon 2025 marks a major step forward for Jakarta.
Accelerating Low-Emission Housing, BTN Strengthens Collaboration With UNEP FI
23 Juni 2025
PT Bank Tabungan Negara (Persero) Tbk continues to strengthen its collaboration with UNEP FI to accelerate the implementation of Low-Emission Housing.
BTN Promotes Subsidized Mortgages at the World Sustainable Finance Forum
20 Juni 2025
PT Bank Tabungan Negara (Persero) Tbk (BTN) reaffirmed its strategic role in supporting the transition to a green economy.
Prabowo to Determine New Name for BTN Syariah After Acquiring Bank Victoria Syariah
9 Juni 2025
President Prabowo Subianto will determine the name for the merged sharia public bank of BTN Syariah and Bank Victoria Syariah
Aiming for 10,000 Low-Emission Houses by 2025, BTN Actively Brings Together Environmentally Friendly Material Producers and Developers
7 Juni 2025
PT Bank Tabungan Negara (Persero) Tbk (BTN) reaffirms its commitment to sustainable development by targeting 10,000 low-emission homes by 2025.
Indonesia's BTN Acquires Bank Victoria Syariah for Rp1.5 Trillion
5 Juni 2025
Following this transaction, BTN assumes full ownership of Bank Victoria Syariah, holding up to 100 percent of all fully paid-up capital in BVIS.
BTN Becomes First Indonesian State-Owned Bank to Sign UN Principles for Responsible Banking
30 April 2025
BTN officially signed the Principles for Responsible Banking (PRB) initiated by the United Nations Environment Programme Finance Initiative (UNEP FI).
BTN Achieves MSCI ESG Rating AA, Highest in the National Banking Sector
27 Maret 2025
PT Bank Tabungan Negara (Persero) Tbk (BTN) has once again recorded a milestone in its history by achieving ESG Rating AA for the first time.
Today's Top 3 News: Biggest Hack in Crypto History, Bybit Loses Nearly $1.4 Billion
23 Februari 2025
Tempo English compiled the top 3 news on Sunday, February 23, 2025.
