BTN Rebranding and Government Support Drive BBTN Share Price

Positive Catalysts Boost Performance

PT Bank Tabungan Negara (Persero) Tbk (BBTN) shares demonstrated strong performance, closing at Rp1,220 on January 15, 2026, with a 5.17% week-on-week increase. The year-to-date gain stands at 5.17% as of January 19, 2026. The stock's trading range during the week was between 1,150 and 1,245. Several key factors contributed to this positive movement:

1. Rebranding of e'Batarapos to BTN Pos: BTN's strategic rebranding aims to expand its low-cost funding base, targeting Rp5 trillion in CASA within a year through distribution via nearly 3,000 post offices and digital transactions through the Bale by BTN application.
2. Continued FLPP Subsidy Support: The government maintained the KPR Sejahtera FLPP scheme in 2026, providing Rp4 million down payment subsidies for Marginalized Borrowers (MBR), keeping housing prices affordable and supporting mortgage demand.
3. Strong Foreign Investor Interest: Foreign investors recorded a net buy of Rp27.8 billion during the week, continuing a positive trend that has seen cumulative net inflows of Rp51.26 billion since the beginning of the year.
4. Successful Bond Issuance: BTN successfully raised Rp2.3 trillion through two bond issuances in December 2025, with Rp1.99 trillion allocated to strengthen capital and support credit expansion.

Market Context and Future Outlook

The positive performance of BBTN shares aligns with broader market trends, as evidenced by the 1.55% increase in the Composite Stock Price Index (IHSG) and 2.47% rise in the LQ45 index. The IDX Finance sector index also recorded a 1.02% gain. These movements reflect improving investor sentiment in Indonesia's financial markets.

BTN's management attributes the share price movement to the combination of strategic initiatives and government support. The bank's focus on digital transformation through Bale by BTN, particularly targeting Gen Z and remote areas (3T regions), positions it well for future growth. The continued government backing through FLPP subsidies provides additional support for the mortgage market.