According to IFC website, the project, which bodes well with IFC’s financial inclusion agenda in Indonesia, involves a loan facility to PT. Bank Tabungan Pensiunan Nasional Tbk. The proceeds will be used to fund the growth of the Bank’s micro and small and medium enterprises businesses and loans to women borrowers. This facility will in turn allow BTPN to increase access to finance for the segments of the population that are currently underserved. As the facility will have a longer tenor than usual deposits, the project will also help BTPN to strengthen its balance sheet structure by reducing its asset-liability maturity mismatch. It is expected to have the following development impact:
1. Increasing the Bank's ability to provide access to finance to MSMEs, which will in turn stimulate growth, creates jobs and help reduce poverty. BTPN will be able to increase its outreach, incorporating millions of new entrepreneurs to the formal financial sector.
2. Increasing access to finance to women borrowers at the bottom of pyramid and women-owned SMEs which helps address the significant financing and capacity gap faced by women in emerging markets.
3. Increasing outreach to population in remote areas through digital banking allowing more individuals obtain formal financial services.
BTPN is a publicly traded bank in Indonesia and its shareholding structure is as follows: (i) Sumitomo Mitsui Banking Corporation (“SMBC”, 40.0%); (ii) Summit Global Capital Management (“SGCM”, 20%), TPG Nusantara (8.4%); (iii) the public (30.2%); and (iv) IFC (1.4%). SMBC is part of the Sumitomo Mitsui Financial Group, Inc. (“SMFG”), which is one of the three largest financial groups in Japan. SGCM is a wholly-owned subsidiary of Sumitomo Corporation, one of the largest general trading companies worldwide, and a member company of Sumitomo Group. TPG Nusantara is a consortium controlled by TPG Capital (“TPG”), a well-regarded private investment partnership that was founded in 1992 and currently has more than $70 billion of assets under management.
Project Contact: Arief Harris Tandjung
Director, PT. Bank Tabungan Pensiunan Nasional Tbk.
Contact No.: +62 21 30026200, Fax : +62 21 30026101
Email Address: firstname.lastname@example.org
Office Address: Menara BTPN, CBD Mega Kuningan, Jl. Dr. Ide Anak Agung Gde Agung Kav. 5.5 – 5.6, Jakarta 12950
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