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CORPORATION

BTN to Establish Two Subsidiaries

Bank Tabungan Negara (BTN) is looking for partners to form subsidiaries in the field of life insurance and investment management. The state-owned bank has allocated investment funds of Rp 700 billion for this.

BTN Strategy, Risk and Compliance Director Mahelan Prabantarikso said from the two subsidiaries, the investment manager will be formed first. It is intended to support the public housing savings (Tapera) program, which is implemented by the government this year.

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