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Jakarta Post

BTN seeks alternative funds for loan growth

  • Marchio Irfan Gorbiano

    The Jakarta Post

Jakarta   /   Wed, February 14 2018   /  12:30 am

State-owned lender Bank Tabungan Negara (BTN) plans to seek out alternative funding this year in a bid to support its loan expansion, which is set to increase over last year.The country’s largest mortgage lender expects to raise a total of Rp 18 trillion (US$1.31 billion) in funds from sources outside traditional third-party funding, namely securitization, bilateral and convertible loans and the issuance of negotiable certificates of deposit (NCD).The total amount targeted this year was slightly higher than the Rp 17 trillion in alternative funding it managed to raise in 2017, said Iman Nugroho Soeko, BTN’s finance and treasury director.He said the nearest fund-raising action would be securitization, also known as asset-backed securities issuance, from the which the bank targeted to raise up to Rp 2 trillion.“We hope the process will be completed by the end of this month,” he sai...