RPT-Fitch BTPN Bond Rating at 'AA-(idn)'

Tue Apr 9, 2013 3:44am EDT

April 9 (Reuters) - (The following statement was released by the rating agency)

Fitch Ratings has given National Long-Term rating at 'AA-(idn)' to the senior bond program Unsecured sustained to 2, the maximum number of 4 trillion dollars to be issued by PT Bank National Savings Pensioners Tbk (BTPN). BTPN plans to bonds issued under the program in two years.

Fitch also set a National Long-Term rating at 'AA (idn)' on The maximum number of bonds BTPN 1 trillion dollars with maturities of up five years and will be published under continuous bond program The Bank's second. The proceeds will be used for business expansion.

consideration The ranking

Senior bonds were given equal rank with the National Rating Long-term bond program BTPN and ratings at 'AA-(idn)', because obligation bonds reflects unconditional, direct, unsecured and does not constitute subordinated obligations of the bank.

Rating reflects the Bank's strong capitalization relative to bank colleagues in the country and good profitability. Position the ratio of Tier 1 and non-performing loans amounted to 20.5% and 0.58% at year end 2012, compared to the industry average of 15.6% and 1.9% respectively. The ratings also consider the bank's exposure to micro-finance high-risk, especially when the economy weakens.

Factors Fueling Rating

The pressure to downgrade may occur if asset quality weakened significantly, but Fitch found it small likely to happen in the near or medium term. potential the increase is limited given the small franchise business profile less diversified compared to peer banks.

Founded in 1958, the Bank is a medium-sized bank opens focuses on retirement market. In March 2008, TPG Nusantara S.a.r.1 (TPG) acquired a 71.6% stake to foreign investors. At the end of 2011, TPG has a 57.9% ownership and the remaining shares held by the public (42.1%).

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