Jakarta, Indonesia, October 16, 2012—IFC,
a member of the World Bank Group, has agreed to provide a loan of $100
million equivalent in Rupiah to Bank Tabungan Pensiunan Nasional Tbk (BTPN)
to provide greater access to financing for small firms and low-income households
such as pensioners, micro and small enterprises, low-income earners and
IFC’s investment will support BTPN
in providing capital to Indonesia’s low-income segment and small firms
so that they can grow their businesses and support their families.
”We are pleased with this strategic
cooperation between IFC and BTPN as it will support BTPN in achieving its
vision to be the best bank in the mass market segment, making a difference
in the lives of millions’’, said Jerry Ng, President Director of BTPN.
“We see the cooperation as an important milestone as it demonstrates BTPN’s
and IFC’s commitment to provide wider access to financing to the benefit
our country’s economic development.”
This is IFC’s second financing for
BTPN. In 2009, IFC provided a convertible loan of $15.7 million equivalent
in Rupiah and a senior loan of $54.3 million equivalent in Rupiah. IFC
has converted $15.7 million of the convertible loan into equity in early
2012, becoming a 3 percent shareholder of the bank.
“Making financial products accessible
to micro and small enterprises plays a critical role in Indonesia’s economic
growth,” said Sarvesh Suri, IFC’s country manager for Indonesia. “Expanding
access to financial services will increase rural incomes and promote sustainable
Microfinance is an essential tool in
the fight against poverty. Easing access to a range of microfinance services—savings,
loans, and money transfers—enables poor families to invest in their small-scale
enterprises, access better welfare, and improve their living conditions.
IFC provides advice and investments for the microfinance sector in developing
countries by focusing on viable institutions that can scale up and respond
to unmet demand.
IFC, a member of the World Bank Group,
is the largest global development institution focused exclusively on the
private sector. We help developing countries achieve sustainable growth
by financing investment, providing advisory services to businesses and
governments, and mobilizing capital in the international financial markets.
In fiscal 2011, amid economic uncertainty across the globe, we helped our
clients create jobs, strengthen environmental performance, and contribute
to their local communities—all while driving our investments to an all-time
high of nearly $19 billion. For more information, visit www.ifc.org.
About PT Bank Tabungan Pensiunan
Nasional Tbk (BTPN)
BTPN is a public bank founded in 1958
with vision to be the best mass market bank, making a difference in the
lives of millions. Focusing to serve the mass market segment, which consists
of pensioners, micro/small business owners and productive poor, BTPN is
powered by more than 1,300 outlets across Indonesia. BTPN puts into practice
the “corporate shared value” concept to advance the economic and social
conditions of its 1-million mass market customers by embedding its social
mission into its business mission under an integrated empowerment platform
called daya. In 2011, daya programs had served more than 800,000
beneficiaries in all businesses BTPN is in. As of June 2012, BTPN has total
assets of IDR52 trillion (USD5.5 billion) with very strong capital adequacy
ratio (CAR) of 21.9% and a low non-performing loan (NPL) ratio of 0.7%
and is rated AA- by FitchRatings.