BBTN - Collaborating with TO to channel

Bank Tabungan Negara (BBTN) collaborates with To jek Tokopedia (TO) to offer kpr loan channelled to jek driver partners or drivers. The background of the collaboration with jek is to expand housing financing based on the informal sector. BTN entered into credit agreements with 16 jek driver partners. This partner has ne through a selection process to become an eligible customer to get housing financing (Source: Bisnis Indonesia) Comment: With the agreeement BBTN could get benefit in marketing KPR product and expand its customer based. Despite middle to low credit score and risk profile tend to be riskier than middle to up segment, we view that the bank has more than decades of substantial experience in channeling mortgage. We also like BBTN latest update which receiving another major portion on FLPP loan channeling.