BTN expands beyond mortgages into retail banking

Wealth management is a key part of the shift. 

Indonesia’s PT Bank Tabungan Negara (Persero) Tbk (BTN) is accelerating its shift from a mortgage-focused lender to a broader consumer bank as it seeks to diversify revenue beyond housing finance.

“BTN is no longer positioning itself solely as a housing lender. We are building a bank that stays relevant from a customer’s first transaction to their long-term wealth accumulation,” Deputy President-Director Oni Febriarto Rahardjo told Asian Banking & Finance on the sidelines of an event in Surabaya in February..

“We are building a bank that stays relevant from a customer’s first transaction to their long-term wealth accumulation,” he added.

Oni said the state lender’s focus this year is diversification—expanding products, deepening relationships and enabling customers to transact, finance, and invest within one integrated ecosystem.

He added that rising expectations for simpler and more integrated financial services are driving the bank’s transformation.

Wealth management is a key part of the shift. Rully Setiawan, director of network and retail funding at BTN, said the bank is targeting 15% growth in the segment this year.

Fee-based income from wealth management rose 60% year on year as of December 2025, whilst assets under management posted double-digit growth. BTN serves about 35,000 wealth management clients nationwide.

“The increase in fee-based income shows stronger monetisation of our wealth platform,” Rully said in a separate interview. “This growth is supported by product expansion and deeper advisory engagement.”

The expansion forms part of a wider retail push that includes credit cards, buy now pay later facilities, auto loans and digital investment access.

A key element is Bale, the bank’s digital app, which is being developed beyond basic transactions.

“Bale is evolving beyond a transaction app,” Rully said. “It is becoming a comprehensive financial gateway covering daily banking, financing, and investment access.”

Planned additions include gold installment schemes and other investment services aimed at keeping customers within the bank’s ecosystem.

Whilst mortgages remain its core strength, executives said future growth depends on expanding the retail product.
“Wealth management is not a standalone service,” Rully said. “It is a natural progression as customers grow within the BTN ecosystem.”

“Our ambition is to accompany customers from building their businesses to managing their wealth, positioning BTN as a long-term financial partner,” he added.