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Asia’s best bank transformation 2022: Bank BTN

This year we acknowledge the transformation under way at Bank BTN, also known as Persero.

As the only housing-focused bank in Indonesia, with mortgages making up 89% of its loan portfolio, Bank BTN acts as an accelerator for the government’s One Million Houses programme, which was launched in 2015 as a solution to a national housing backlog thought to stand at 11.4 million homes.

As the main distributor of government-subsidized mortgages, Bank BTN is well placed to be an agent of this state ambition, but its work has been impeded by Covid-19: the pandemic damaged economic activity and therefore individual purchasing power, reducing the demand for new mortgages and the ability to keep up payments on existing ones.

Consequently, BTN’s non-performing loan ratio is, at 4.37%, the highest among national banks. Tight liquidity has also made life difficult, and BTN faces a relatively high cost of funds.

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