BTN not significantly affected by OJK ban

JAKARTA. State-owned lender PT Bank Tabungan Negara Tbk (BTN) has assured that a sanction issued by the Financial Services Authority (OJK) prohibiting the bank from accepting new customers in its cash offices will not disrupt the bank’s overall performance.

BTN corporate secretary Eko Waluyo said the contribution of third-party funds from the cash offices accounted for only 8.5 percent of BTN’s third-party funds.

In addition, new accounts in the cash offices only accounted for 10 percent of all accounts. 

A potential customer who wants to open a new account in a cash office will be directed to a branch office, Eko said, adding that existing customers would not be affected by the ban.

Meanwhile, Maryono, the president director of BTN, explained that the liquidity of BTN was safe.

The OJK has prohibited BTN from accepting new customer at the bank’s cash offices, following alleged time deposit forgery at two of its cash offices, allegedly involving two BTN employees. (bbn)