MICROCAPITAL.ORG STORY: PT Bank Tabungan Pensiunan Nasional Tbk (BTPN) in Indonesia receives $70m financing from International Finance Corporation

Indonesia’s PT Bank Tabungan Pensiunan Nasional Tbk (BTPN) received a USD 70 million financial package from the International Finance Corporation (IFC). The package includes an option to covert USD 15.9 million from debt to equity and a USD 54.1 senior loan or “prime rate” loan. IFC has also committed to help BTPN raise more funding throughout the next three years. [1]

The IFC, a member of the World Bank Group, was created in 1956 to spur private sector investment in developing countries. Currently, IFC has 182 member countries. [2] According to a press release from IFC, its new investments in 2009, geared toward helping developing countries gain access to capital during the financial crisis, totaled USD 14.5 billion. [1]

PT Bank Tabungan Pensiunan Nasional Tbk (BTPN) in Indonesia was founded in 1958, with a focus on micro banking and pension markets. It currently has over 800 branches throughout Indonesia. [3] The press release further states that the bank has total assets of USD 1.9 billion (Rp. 18.2 trillion). [1]

By Radhika Chandrasekhar, Research Assistant

Bibliography

[1] “IFC, BTPN Increase Access to Finance for Low- income Indonesian Households, Enterprises.” International Finance Corporation. http://www.ifc.org/ifcext/mediahub.nsf/Content/SelectedPR?OpenDocument&UNID=BE26131BADFDD95E8525764A0053C088

[2] About IFC: What We Do. http://www.ifc.org/ifcext/about.nsf/Content/WhatWeDo

[3] BTPN. http://www.btpn.com/

[4] Bloomberg Calculator. http://www.bloomberg.com/invest//calculators/currency.html

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