BTN Completes Spin-off of Sharia Business Unit to Bank Syariah Nasional

Strategic Restructuring in Islamic Banking

PT Bank Tabungan Negara (Persero) Tbk (BBTN), commonly known as BTN, has successfully completed the spin-off of its Sharia Business Unit (UUS) to PT Bank Syariah Nasional (BSN) following approval from an Extraordinary General Meeting of Shareholders (RUPSLB) held on November 18, 2025 ¹

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Source 2

https://finansial.bisnis.com/read/20251118/231/1929687/bbtn-resmi-lepas-unit-syariah-ke-bank-syariah-nasional-bsn

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Source 3

https://finansial.bisnis.com/read/20251118/90/1929745/btn-pastikan-spin-off-unit-syariah-tak-ganggu-kinerja-kredit-tumbuh-8-85

. This strategic move is part of the bank's efforts to strengthen its position in the Islamic banking sector and enhance operational efficiency.

Key Details of the Spin-off

The spin-off process, which involves transferring all assets and liabilities of BTN's Sharia Business Unit to BSN, is expected to be finalized by December 22, 2025 ³

. As a result of this transaction, BSN will become the second-largest Islamic bank in Indonesia, boasting total assets of Rp71.3 trillion ²

Source 2

https://finansial.bisnis.com/read/20251118/231/1929687/bbtn-resmi-lepas-unit-syariah-ke-bank-syariah-nasional-bsn

. The combined entity will benefit from enhanced operational capabilities and a stronger market presence.

Impact on BTN's Financials

BTN's CEO, Nixon LP Napitupulu, stated that while the spin-off will lead to a reduction in BTN's assets on a bank-only basis, the bank's consolidated financials will remain unaffected ¹

. The company is prepared to mitigate any potential impact on its capital adequacy ratio (CAR) by issuing tier 2 capital instruments ¹

Source 1

https://finance.detik.com/bursa-dan-valas/d-8216038/gelar-rupslb-btn-resmi-lepas-unit-syariah

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Business Outlook

The spin-off is expected to create a more focused and efficient Islamic banking operation under BSN. BTN's UUS has shown significant growth over the past five years, with assets growing at a CAGR of 16.36% from 2020 to 2024 ²

. This growth trajectory is expected to continue under the new structure, supporting BTN's vision of becoming a more robust and diversified banking group.

Synergies and Future Plans

The integration is expected to leverage the strengths of both BTN and BSN, creating synergies that will drive future growth. BSN plans to implement a Corporate Plan for 2025-2029 focusing on sustainable Sharia financing, risk management, digital innovation, and expanding access to housing finance for low-income households ²

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