April 9 (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%).