As preparations for the spin-off of its sharia business unit advance, Bank Tabungan Negara (Persero) Tbk (BTN) via its sharia arm BTN Syariah has achieved another milestone: being named “Best Islamic Bank – Indonesia 2025” by global magazine Euromoney. The accolade recognises an impressive performance, ongoing transformation, and commitment to sustainability in sharia-compliant operations.
BTN’s Director of Consumer Banking, Hirwandi Gafar, remarked that the award represents recognition of BTN Syariah’s strategic move to strengthen its position as a leading player in Indonesia’s Islamic banking industry. He emphasised that the halal market in Indonesia remains large and under-developed by Islamic banks, whereupon BTN Syariah will continue to innovate and expand its offerings — particularly in sharia-based mortgage financing and digital banking services.
The award also reflects Euromoney’s assessment that BTN and BTN Syariah have made substantial contributions to national housing programmes — especially through providing financing to lower-middle income segments and establishing a full end-to-end housing ecosystem including construction financing, working capital, cash management, payroll and end-user financing.
On the financial performance front, as of March 2025 BTN Syariah recorded year-on-year growth in financing of 18.2% to approximately IDR 46.3 trillion; third-party funds (TPF) rose by 19.9% to IDR 51.4 trillion; total assets grew by 11.6% to IDR 61.2 trillion; and net profit surged 21.1% to IDR 199 billion.
