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Bank BTN became the first bank to be appointed by the government to provide housing finance and mortgages to lower and middle income individuals. [6] The bank underwent a corporate restructure in 2003, which was followed by an initial public offering (IPO) in 2009 that led to the listing of Bank BTN on the Indonesia Stock Exchange. [7]
Bank Rakyat Indonesia (BRI) 16 December 1895 Bank Tabungan Negara (BTN) 16 October 1897 [2] Subsidiaries of state-owned banks Bank Mandiri Taspen: 23 February 1970 Bank Mandiri, PT Taspen Non-foreign exchange bank Hibank: 25 February 1993 Bank Negara Indonesia: Foreign exchange bank Bank Raya Indonesia: 27 September 1989 Bank Rakyat Indonesia
Bank Negara Indonesia was the first government bank in Indonesia which listed its shares on both the Jakarta Stock Exchange (now Indonesia Stock Exchange) and the Surabaya Stock Exchange. The corporate name was amended to 'PT. Bank Negara Indonesia (Persero) Tbk', to show its status as a public company. [10]
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As of February 2023, acquisition of another state-owned bank BTN Syariah is still being discussed, but it would be instead acquired by Bank Muamalat Indonesia (BMI) and it would be finished in March 2024. BTN Syariah was founded on 14 February 2005 as a sharia banking unit of Bank Tabungan Negara (BTN). [6]