JAKARTA — In a move to scrutinize the utilization of government funds, Indonesia’s Minister of Finance Purbaya Yudhi Sadewa announced plans to visit PT Bank Tabungan Negara (Persero) Tbk (BTN). He will be accompanied by representatives from the Investment Management Agency (BPI) Danantara to review the absorption of state budget surplus funds (SAL APBN) by the state-owned bank. To date, BTN has disbursed credits totaling Rp10.5 trillion from the Rp25 trillion in government funds allocated to it, marking an absorption rate of 42 percent.
During a statement at the Directorate General of Taxes (DJP) office at the Ministry of Finance in Jakarta on Monday evening, October 13, 2025, Purbaya conveyed a stern message. “The BTN President Director stated they would accelerate the absorption of the remaining Rp15 trillion. If they fail to absorb it, we will transfer the funds in the near future,” Purbaya asserted, highlighting the government’s expectation for prompt disbursement.
Despite this, Purbaya admitted he lacked detailed information regarding BTN‘s current government fund absorption. This prompted his decision to personally visit BTN‘s office for a direct discussion with its President Director, Nixon LP Napitupulu. He emphasized that his visit would not be a solo endeavor, as Danantara’s involvement is crucial. “I won’t be going to the bank alone; Danantara will accompany me and lead the visit. There have been objections, suggesting it’s not my right to conduct such an inspection, but I am Danantara’s supervisor,” Purbaya clarified, underscoring his supervisory role.
Meanwhile, BTN President Director Nixon LP Napitupulu remains highly optimistic that the entirety of the Rp25 trillion government funds will be fully absorbed by November 2025. These crucial funds are earmarked for allocation across various productive sectors, including construction, real estate, trade, and health. A primary focus for BTN, however, remains the financing of public housing, aligning with its core mandate.
Elaborating on BTN‘s absorption figures, Nixon stated that the Rp10.5 trillion represents the total credit realized up to September 2025. He further specified that the value of credits already reimbursed stands at approximately Rp4.5 trillion. “The remainder will be billed this October,” Nixon explained, indicating an imminent increase in reported absorption.
Nixon attributed the initially slower absorption rate to BTN‘s specialized portfolio, predominantly focused on financing the housing sector, particularly home ownership loans (KPR). He pointed out that, in principle, KPR processing is inherently more complex than general credit facilities, involving extensive stages from rigorous verification to final credit approval. Additionally, the absorption of government funds by BTN is still considered to be in its preliminary phases, given that credit disbursement occurs gradually, adhering to a pre-scheduled credit pipeline.
To counter these challenges, BTN has proactively prepared an extensive credit pipeline spanning diverse segments, from corporate and commercial clients to micro, small, and medium enterprises (MSMEs), consumers, and even sharia-compliant financing. “We can confirm that the total available pipeline reaches approximately Rp27.5 trillion, which significantly exceeds the Rp25 trillion in State Fund Placement (PUN) allocated to us. This pipeline is ready for disbursement as scheduled,” Nixon concluded confidently, demonstrating BTN‘s capacity and readiness to fully utilize the government’s investment.
Summary
Indonesia’s Minister of Finance Purbaya Yudhi Sadewa plans to visit PT Bank Tabungan Negara (BTN) with the Investment Management Agency (BPI) Danantara to review the utilization of Rp25 trillion ($1.6B) in government funds. As of September 2025, BTN has disbursed Rp10.5 trillion, achieving a 42 percent absorption rate. The Minister emphasized the need for accelerated absorption of the remaining funds, threatening to transfer them if BTN fails to comply.
BTN President Director Nixon LP Napitupulu expressed optimism that the entire Rp25 trillion will be fully absorbed by November 2025, allocated across housing and other productive sectors. He noted that the initial slower pace was due to the complex nature of housing loan processing, BTN’s specialized focus. BTN has prepared an extensive credit pipeline of approximately Rp27.5 trillion, exceeding the allocated funds, ready for scheduled disbursement across various segments.