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Focusing on small loans, BTPN has highest lending rate

JAKARTA: PT Bank Tabungan Pensiunan Nasional Tbk has the highest prime lending rate in the national banking industry, since the bank is focusing on micro, small and medium business financing.Prime lending rate of BTPN, as published in the banks website,

JAKARTA: PT Bank Tabungan Pensiunan Nasional Tbk has the highest prime lending rate in the national banking industry, since the bank is focusing on micro, small and medium business financing.Prime lending rate of BTPN, as published in the banks website, is 21.7% for financing retail and 20.7% for non-housing ownership credit.BTPN which is controlled by David Bonderman through TPG Nusantara, currently has the highest lending rate amongst 43 banks with assets value more than IDR10 trillion. The banks offer various lending rates within the range of 9%-17.75% for retail and 10.05%-15.7% for corporate credit.In addition, lending rate charged to customers may be higher, since the rate does not include the component of risk premiums.Such high prime lending rate is caused by large operating expenses, according to BTPN President Director Jerry Ng.We have 1,100 branch offices, so our operating cost is high. We have a different nature of business, he told Bisnis yesterday.Director Anika Faisal said that the bank needs significant number of branches to support the credit requirements in micro, small, and medium businesses, not corporations.Moreover, the other reason is the third party fund which is mostly high cost.Eighty percent of our fund is in time deposits, said BTPN Vice President Ongki Wanadjati Dana.The company financial report shows that in the first half of the year, interest expense reached IDR1.28 trillion, while third party fund was IDR29.45 trillion.The company's employee expense was IDR611 billion and other expenses reached IDR486.31 billion.BTPN also has the program of empowering customers in health and entrepreneurship, which takes up 5%-6% of operating expenses. The bank sets operating expenses this year at IDR2.2 trillion.Though the bank has the highest prime lending rate, Anika denied it to be the impact of inefficient operation. The bank, as she added, should not be compared to other banks with different core business. (T04/NOM)

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