Bank Tabungan Negara

Stock Quote Bank Tabungan Negara - BBTN:

Business Summary

BTN has its business activities focused in three sectors:

• Mortgage loans and consumer banking
• Housing and commercial banking
• Syariah-banking (Islamic banking)

Bank Tabungan Negara was established under the name of Postspaarbank in 1897 during Indonesia's colonial days. In 1950, the company changed its name to Bank Tabungan Pos, and to Bank Tabungan Negara in 1963.

Operational Highlights Bank Tabungan Negara:

	2013	2014	2015	2016	2017
Number of Employees	8,011	8,582	9,042	9,380	10,245
Number of Branches	65	65	65	65	75
Number of ATMs	1,501	1,830	1,830	1,830	1,964

^{Source: Bank Tabungan Negara, Annual Report 2017}

The company provides a variety of products and services in the fields of housing, primarily through loans (mortgages), both subsidized mortgages for the middle class to lower segments of Indonesia's society and non-subsidized mortgages for the middle class to upper class segments.

Bank Tabungan Negara's Financial Highlights:

	2013	2014	2015	2016	2017
Net Revenues	5,653	5,465	6,811	8,164	9,341
Net Profit	1,562	1,146	1,851	2,619	3,027
Operating Income	2,136	1,577	2,534	3,352	3,892
Total Assets	131,170	144,582	171,808	214,168	261,365
Total Liabilities	119,613	132,329	157,947	182,829	223,937
Net Profit per Share¹	148	108	175	247	286
Third Party Funds	96,208	106,471	127,709	147,788	177,091
Non Performing Loan Ratio²	4.05%	4.01%	3.42%	2.84%	2.66%
Capital Adequacy Ratio (CAR)	15.62%	14.64%	16.97%	20.34%	18.87%
Net Interest Margin (NIM)	5.44%	4.47%	4.87%	4.98%	4.76%
Cash Dividend per Share¹	44,36	21,11	34,96	49,46

 

	2008	2009	2010	2011	2012
Net Revenues	1,960	2,302	3,355	3,786	4,727
Net Profit	430	490	916	1,119	1,364
Operating Income	669	739	1,264	1,526	1,871
Total Assets	44,992	58,448	68,386	89,121	111,749
Total Liabilities	41,914	53,055	61,938	81,800	101,470
Net Profit per Share¹	68	76	105	123	148
Third Party Funds		40,215	47,546	61,970	80,668
Non Performing Loan Ratio²	3.20%	3.36%	3.26%	2.75%	4.09%
Capital Adequacy Ratio (CAR)	16.14%	21.54%	16.74%	15.03%	17.69%
Net Interest Margin (NIM)		4.60%	5.99%	5.76%	5.83%
Cash Dividend per Share¹			31,19	25,31	39,00

^{in billion IDR rupiah unless otherwise stated
¹ in IDR rupiah
² gross
Source: Bank Tabungan Negara, Annual Report 2017}

Future Projection of Bank Tabungan Negara's Financial Highlights:

	2018	2019	2021F	2022F
Net Interest Income	8,962.0	9,835.0	10,837.0	11,829.0
PPOP	4,008.0	4,670.0	5,375.0	6,143.0
Net Profit	209.0	1,133.0	1,909.0	2,722.0
P/E Ratio (x)	63.2	11.7	6.9	4.9
P/BV (x)	0.6	0.7	0.6	0.6

^{in billion IDR rupiah, except otherwise indicated
Source: Danarekasa Sekuritas (08.07.2020)}