BTPN RECEIVED LOAN FROM IFC

by **Aldibirawa** Wed Sep 03, 2014 9:07 am

Bank Tabungan Pensiunan Nasional (BTPN) received US$100 mn of revolving loan from IFC. The loan agreement was signed in 1 Aug 2014. According to BTPN's management the loan will be solely used for expanding the bank's micro lending business.

Comment: Wholesale funding is crucial for BTPN since the company's retail deposit structure is loaded with time deposit. Time deposit rates have been increasing in 2014 as liquidity is tightening.

*Source ciptadana daily research 3/09/2014