BBTN - Bale by BTN transaction volume reaches 5.7 mn in Sept25

BBTN - Bale by BTN transaction volume reaches 5.7 mn in Sept25 Bank Tabungan Negara (BTN) has gradually built customer trust thru its digital transformation. This is reflected in the number of transactions at Bale by BTN, which reached 5.7 mn by September 2025, a significant increase compared to 3.3 mn during the same period last year. The increase has doubled by the ninth month of 2025, which indicates customer confidence in BTN's digital initiatives. We also offer Bale Merchant, Bale Korpora, and other services to meet specific customer needs," explained BTN Director of Information Technology Tan Jacky Chen. With this significant growth, Jacky stated that BTN continues to ensure the availability and reliability of its systems to meet customer needs. (Source : Kontan) Comment : This transformation is not merely a service upgrade but a core strategic pivot designed to fundamentally alter the bank's financial structure and long-term positioning. BBTN is successfully executing its strategy to move beyond its role as a specialized mortgage bank by using digital platforms to capture high-volume, low-cost customer transactions, directly translating digital engagement into improved financial performance. The stock has delivered a robust +30.6% gain since our initial report this year. Maintain BUY GGM-based TP of IDR 1,530.