BBTN - Records digital credit applications

BBTN - Records digital credit applications Bank Tabungan Negara (BBTN) continues to strengthen credit distribution thru digital channels. Until early 2026, online credit applications thru the company's digital platform showed an increase of around 11% yoy. SEVP Digital Business BTN, Thomas Wahyudi, said that customers can now apply for credit digitally thru the BTN Property platform or the Bale by BTN super app. The development of credit booking thru BTN's digital platform shows an increasingly positive trend. He revealed that in the period of January 2026, online credit applications thru BTN's digital platform reached nearly 4,000 applications. For this year, BTN predicts that the trend of digital credit applications will continue to grow, especially driven by the high public interest in accessing housing financing online. By 2026, BTN targets total digital credit applications to reach more than 60,000 applications throughout the year, an increase of about 25% compared to the application target in 2025. (Source : Kontan) Comment : The increase in digital credit applications in Jan26 is a vital "leading indicator" for the bank. This growth is not just a volume play; it represents a fundamental shift in the bank's cost structure and revenue quality. The 11% growth in January is the "engine room" for BTN's goal of becoming a modern consumer bank. If BTN reaches its 60,000 digital application targets, the resulting shift toward low-cost acquisition and higher fee-based income makes the Rp4 trillion profit target highly achievable. Maintain BUY, GGM-based TP of IDR1,530 (0.4x ‘26F P/B).