BBTN - BTN syariah business plan after spin off

BBTN - BTN syariah business plan after spin off Bank Tabungan Negara (BBTN) President Director revealed the business plan if BTN Syariah had officially released or spin off the Sharia Business Unit (UUS), namely BTN Syariah. The company plans to target the majority of its business, of which around 60% to 70% will focus on the housing sector in accordance with the ecosystem that BBTN has built. The remaining 30% to 40% will be supported by other derivative segments, namely SME and MSME. Meanwhile, BBTN stated that this spin off would be an engine for strong growth in the sharia consumer segment. This was in line with the market potential for sharia KPR home ownership credit which is growing rapidly in Indonesia. (Source: Bisnis Indonesia) Comment: The spin of will benefit BBTN, both in terms of widen ecosystem as well as expanding its current market segment. Post the corporate action, the bank will also become the beneficiary of the huge untapped market potential in syariah business.